US Fed Meeting 2023 Date and Time (Image Source: The Economic Times, TN Digital)
The upcoming Committee meeting is expected to finalize the date for the next gathering, tentatively set for Tuesday–Wednesday, September 19 - 20, 2023. During the previous meeting in July 2023, the Federal Open Market Committee
(FOMC) took measures to raise interest rates to a range of 5.25 percent to 5.50 percent. This decision marked the 11th rate hike within the current cycle, primarily aimed at mitigating the challenges posed by persistently high inflation.
The announcement of the FOMC's interest rate verdict is scheduled for September 20 at 2:00 p.m. ET or 11:30 p.m. IST, with Jerome Powell
presiding as the chairperson.
In the last meeting, FED saw two small hikes by end of year and said, "Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective."
How to watch Jerome Powell's address live streaming
The meeting can be watched at https://www.youtube.com/@federalreserve