1. The Federal Open Market Committee (FOMC) meets about every six weeks to assess the state of the economy and to decide what actions the central bank should take. The minutes of this meeting are released after the next scheduled meeting; however, a brief press release is made available immediately.

Find the schedule of minutes and press releases at www.federalreserve.gov/fomc/.

a. When was the last scheduled meeting of the FOMC? When is the next meeting?

b. Review the press release from the last meeting.

What did the committee decide to do about shortterm interest rates?

c. Review the most recently published meeting minutes.

What areas of the economy seemed to be of most concern to the committee members?