July 07, 2020

FOMC announces tentative 2021 meeting schedule

moneyThe Federal Open Market Committee (FOMC), the monetary policy-setting arm of the Federal Reserve, announced its tentative meeting schedule which covers 2021 and the beginning of 2022.

The committee's two-day policy meetings are currently scheduled as follows:

  • Jan. 26-27;
  • Mar. 16-17;
  • Apr. 27-28;
  • Jun. 15-16;
  • Jul. 27-28;
  • Sept. 21-22;
  • Nov. 2-3;
  • Dec. 14-15 and
  • Jan. 25-26, 2022.

The FOMC next meets July 28-29 and three more times before the end of the year: Sept. 15-16, Nov. 4-5 and Dec. 15-16.

In March, the FOMC cut the federal funds target rate to a range of 0 to 0.25 percent in an effort to encourage the flow of credit to consumers and small businesses following the onset of the coronavirus pandemic.

At its June policy-setting meeting, the FOMC left the federal funds target rate at near 0 percent, and will likely continue holding rates at zero “until some set date or until a threshold for economic improvement is achieved,” NAFCU Chief Economist and Vice President of Research Curt Long suggested.