The **Federal Open Market Committee (FOMC)** is the principal monetary policymaking body of the United States Federal Reserve System, responsible for directing open market operations—the Fed's most important monetary policy tool. Its main role is to influence interest rates and the growth of the U.S. money supply, aiming to fulfill congressionally mandated goals of maximum employment and price stability[1][2][3][5]. Established officially by the Banking Act of 1933 and fully constituted in 1936, the FOMC evolved from earlier informal committees coordinating Federal Reserve Banks' open market activities dating back to 1922[2][3]. The committee consists of 12 voting members: the seven members of the Federal Reserve Board of Governors, the president of the Federal Reserve Bank of New York, and four other Reserve Bank presidents who serve rotating one-year terms. Although only 12 vote, all 12 Reserve Bank presidents participate in discussions, providing vital regional economic insights[1][2][5]. The FOMC meets eight times annually to review economic and financial conditions, assess price stability, and set monetary policy, including a short-term target for the federal funds rate—the interest rate at which banks lend to each other overnight[4][6][8]. Four meetings each year include a Summary of Economic Projections and a press conference by the chair, currently Jerome Powell[4][6]. The committee’s decisions impact a wide range of economic variables, including employment, inflation, and financial market conditions, making their announcements highly anticipated by business and technology sectors[6]. Notably, the FOMC also coordinates with the U.S. Treasury for foreign exchange market interventions. Its actions have shaped U.S. monetary policy through economic crises and booms, helping guide sustainable economic growth and financial stability[2][3][5]. The FOMC's transparent communication strategy, including detailed meeting minutes and projections, enhances market understanding and reduces volatility[6]. In summary, the FOM