The United States Federal Reserve’s Interest Rate Decision on December 13, 2023 is a critical event impacting the global economy. Analysts and investors eagerly await the Fed’s announcement to gauge its potential effects on inflation, economic growth, and monetary policy.
Impact on Borrowing Costs
The decision made by the Federal Reserve regarding interest rates has a significant impact on various aspects of the economy. It directly affects the borrowing costs for consumers, businesses, and the government. When there are changes in interest rates, it can have a ripple effect on mortgage rates, credit card interest rates, and even the availability and terms of business loans. Therefore, any adjustments in the interest rates set by the Fed can have far-reaching consequences throughout the financial landscape.
Previous released data results :
On last data (1-11-2023) we predict to SELL XAUUSD as for as strong US Economy performance was created selling pressure on gold.
About the FOMC
The Federal Open Market Committee (FOMC) plays a crucial role in shaping the US economy through monetary policy decisions. This presentation will explore the FOMC’s functions and impact on economic stability and growth.
The FOMC consists of 12 members, including the 7 governors of the Federal Reserve Board and 5 Federal Reserve Bank presidents. This diverse group convenes regularly to discuss and set monetary policy.
The Federal Open Market Committee (FOMC) consists of twelve members–the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee’s assessment of the economy and policy options.
Challenges and Criticisms
While the FOMC plays a vital role, it faces challenges and criticisms, including concerns about transparency, accountability, and the potential for unintended consequences. Addressing these issues is crucial for maintaining public trust.
2023 Committee Members
- Jerome H. Powell, Board of Governors, Chair
- John C. Williams, New York, Vice Chair
- Michael S. Barr, Board of Governors
- Michelle W. Bowman, Board of Governors
- Lisa D. Cook, Board of Governors
- Austan D. Goolsbee, Chicago
- Patrick Harker, Philadelphia
- Philip N. Jefferson, Board of Governors
- Neel Kashkari, Minneapolis
- Adriana D. Kugler, Board of Governors
- Lorie K. Logan, Dallas
- Christopher J. Waller, Board of Governors
- Thomas I. Barkin, Richmond
- Raphael W. Bostic, Atlanta
- Mary C. Daly, San Francisco
- Loretta J. Mester, Cleveland
- Sushmita Shukla, First Vice President, New York
Federal Reserve Bank Rotation on the FOMC
Committee membership changes at the first regularly scheduled meeting of the year.
2023 MEETING STATEMENTS
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