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The Week Ahead: FOMC to Meet Wednesday

The Federal Open Market Committee and the Federal Reserve Board of Governors Board of Governors are set to meet Tuesday, June 13 and Wednesday, June 14, in Washington D.C.. It will be their fourth meeting of 2017.

The Board of Governors meet eight times a year to determine the economic situation, assess interest rates, and discuss domestic financial market conditions. They will also prepare an economic forecast. Janet Yellen, Chair of the Board of Governors, is scheduled to give press conference at 2:30 p.m. eastern time on Wednesday. 

In May, the last time the board met, they voted unanimously to maintain interest rate paid on required and excess reserve balances at 1.00 percent. The committee also maintained its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. They have said they anticipate on continuing this policy moving forward.

June’s meeting will come with a Summary of Economic Projections. They did not prepare one in May.

This Week’s Schedule:

Federal Budget, Monday 2 p.m. EST

Yellen Press Conference Wednesday 2:30 p.m. EST

Freddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EST

New Residential Construction Report, Friday

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