FOMC Statement (US)
The Federal Open Market Committee (FOMC) is the functioning policymaking portion of the Federal Reserve. It consists of 12 members, seven from the U.S. Federal Reserve Board of Governors (FED) and five regional Reserve bank presidents. FOMC statements are made in conjunction with the FED meeting schedule every five to eight weeks of the calendar year.The primary responsibility of the FOMC is to craft policies that promote employment, economic growth, pricing stability, and sustainable foreign trade. This is achieved by actively managing the sale and purchase of U.S. government securities by the FED.FOMC statements disseminate monetary policy decisions to the public. Markets can react chaotically to an unexpected statement, creating tremendous volatility in the pricing of forex instruments. The valuation of the USD against global majors can be impacted dramatically, according to whether the statement is dovish or hawkish.