What Happens on an FOMC Decision Day
The sequence of an FOMC decision day: what is published, in what order, and how to follow along from the primary documents — a practical guide for the next meeting.
What's changed, and when it was published
A running record of new guides, tool updates, and figure refreshes on The Central Banker, each entry dated against the schedule it went out on.
Updates
New guides, tool updates and corrections, in the order they were published
Why the Fed Targets PCE, Not CPI
CPI and PCE measure inflation differently. The Fed chose PCE — and the reasons are in a published document from 2000. Here is what it says and what the difference means.
What Is the Overnight Reverse Repo Facility?
The ON RRP facility explained: what it does, who uses it, why it matters for the interest rate floor, and where the daily figures are published.
How the FOMC Voting Rotation Works
The FOMC has twelve voting members but nineteen participants. Here is how the annual rotation of regional bank presidents works, who votes this year, and where the roster is published.
What Forward Guidance Is and Is Not
Forward guidance is what a central bank says about its own future decisions — but it is not a promise. Here is how it works, where it appears, and what the published record shows about how often it ...