What Happens at a FOMC Meeting?
After each FOMC meeting and announcement, the meeting minutes are prepared and released about three weeks later. The minutes often provide insight into the focus of the meeting and the factors that influenced the FOMC decision. The minutes contain staff reports and committee discussion. As an example, the minutes of the September 22-23, 2009, FOMC meeting contained these staff comments on economic conditions at that time. “Factory output, particularly motor vehicle production, rose in July and August. Consumer spending on motor vehicles during that period was boosted by government rebates and greater dealer incentives, and household spending outside of motor vehicles appeared to rise in August after having been roughly flat from May through July. Although employment continued to contract in August, the pace of job losses slowed noticeably from that of earlier in the year. Investment in equipment and software (E&S) also seemed to be stabilizing. Sales and construction of single-family h
