TopicsOrganization

Federal Reserve

The Federal Reserve is the central bank of the United States, and its interest rate decisions affect the cost of loans and savings.

Why it matters

The Federal Reserve System is the central bank of the United States. Its Federal Open Market Committee sets a target range for the federal funds rate, and the pieces above explain how that decision is made and how it reaches borrowers and savers.

CultureExplainer

What holidays are banks closed?

The Federal Reserve Banks list 11 holidays a year: New Year's, Martin Luther King Jr., Presidents, Memorial, Juneteenth, Independence, Labor, Columbus, Veterans, Thanksgiving and Christmas Day.

Federal Reserve Financial ServicesConfirmed Nov 12, 12:52 AM ET

MarketsExplainer

When is the next Fed meeting?

The next scheduled meeting of the Federal Open Market Committee is December 8 and 9, 2026.

Board of Governors of the Federal Reserve SystemConfirmed Nov 11, 10:26 PM ET

What happened

In 2027, Independence Day falls on a Sunday, and the Federal Reserve Banks and the Board of Governors are closed on July 5, 2027. From: What holidays are banks closed? Confirmed Nov 12, 12:52 AM ET
The two holidays after Veterans Day on the Federal Reserve Banks' schedule for 2026 are Thanksgiving Day on November 26 and Christmas Day on December 25. From: What holidays are banks closed? Confirmed Nov 12, 12:52 AM ET
When a holiday falls on a Saturday, Federal Reserve Banks and Branches are open the preceding Friday, and when a holiday falls on a Sunday, they are closed the following Monday. From: What holidays are banks closed? Confirmed Nov 12, 12:52 AM ET
For Thanksgiving Day 2026, FedACH processing ends on November 25 at 11:30 p.m. Eastern time and resumes on November 26 at 5:30 p.m. Eastern time. From: What holidays are banks closed? Confirmed Nov 12, 12:52 AM ET
At its last meeting, on October 27 and 28, 2026, the committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent. From: When is the next Fed meeting? Confirmed Nov 11, 10:26 PM ET
The October statement was approved by a 10 to 2 vote. Lisa D. Cook and Beth M. Hammack voted against the monetary policy action and preferred to raise the target range by 1/4 percentage point. From: When is the next Fed meeting? Confirmed Nov 11, 10:26 PM ET
The December 8 and 9 meeting is marked on the Federal Reserve's calendar as a meeting associated with a Summary of Economic Projections. From: When is the next Fed meeting? Confirmed Nov 11, 10:26 PM ET
The first meeting of 2027 is scheduled for January 26 and 27, and the calendar says each meeting date is tentative until confirmed at the meeting before it. From: When is the next Fed meeting? Confirmed Nov 11, 10:26 PM ET