November 27, 2023

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FOMC Meet Likely To Make Shifts In US Monetary Policy

January 30,  2024

By: Pooja

The FOMC is tentatively scheduled for January 30-31, 2024, to discuss the US monetary policy strategy.

Meeting Date and Purpose

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In December 2023, the FOMC maintained interest rates unchanged at 5.25% to 5.5% for the third consecutive time.

Previous Decision

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The FOMC will announce its interest rate decision on January 30 at 2:00 p.m. ET.

Announcement Date and Time

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Speaker and FOMC Chair

Jerome Powell is expected to speak during the announcement.

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Projections and Policy Hints

Economic projections suggest a potential end to tightening policy, hinting at future rate cuts.

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Future Rate Increase

Despite current rates, the Federal Reserve remains open to a potential future increase in borrowing costs.

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Economic Assessment

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The latest policy statement acknowledged the robust U.S. economy but recognized tighter financial conditions for businesses and households.