FOMC Interest Rate Decision
The Federal Open Market Committee members meet eight times per year to decide on monetary policy, on where to set the rate. Rate changes impact interest rates for consumer loans, bonds, mortgages and the US dollar's exchange rate. Rising rates tend to cause the US dollar to appreciate while falling rates cause it to depreciate. The decision of the FOMC is usually very important, maybe more important than the actual interest rate move made by the central bank, due to it being greatly anticipated. This statement includes hints for the future and contains the Federal's collective outlook on the economy.