Logotype for Federal Reserve System

Federal Reserve System (FED) investor relations material

Federal Reserve System FOMC Meeting summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Federal Reserve System
FOMC Meeting summary29 Oct, 2025

Economic outlook and recent developments

  • Economic activity is expanding at a moderate pace, with GDP growth slowing to 1.6% in the first half of the year from 2.4% last year, mainly supported by strong consumer spending.

  • Job gains are slowing, unemployment is edging up but remains low, and labor market conditions are gradually cooling with downside risks to employment rising due to lower immigration and labor force participation.

  • Inflation has eased from its 2022 highs but remains somewhat elevated and above the 2% target, with recent increases in goods inflation due to tariffs, while services inflation continues to moderate.

  • Near-term inflation expectations have risen, but longer-term expectations remain anchored around the 2% goal.

  • Uncertainty about the economic outlook is elevated, with downside risks to employment rising in recent months.

Monetary policy actions and guidance

  • The policy interest rate was lowered by 25 basis points to a target range of 3.75% to 4%.

  • Interest rate paid on reserve balances reduced to 3.90 percent, and the primary credit rate decreased by 1/4 percentage point to 4.0 percent.

  • The reduction of aggregate securities holdings will conclude as of December 1, with all principal payments from Treasury and agency securities to be reinvested thereafter.

  • Policy is not on a preset course; future rate decisions will depend on incoming data and evolving risks.

  • There are strongly differing views within the Committee about the path forward, with no consensus on further rate cuts.

Balance sheet and financial system

  • Balance sheet runoff will cease December 1, as reserve levels are now judged ample; securities holdings have declined from 35% to 21% of GDP.

  • The Fed will hold the balance sheet steady, reinvesting agency securities into Treasury bills to normalize portfolio composition.

  • Over time, reserves will need to grow again to match the banking system and economic size, with a gradual shift toward a shorter-duration, Treasury-heavy balance sheet.

  • Financial system stability is being monitored, with banks well-capitalized and household debt manageable, though subprime auto loan defaults are rising.

  • Open market operations and standing repo facilities are set to maintain the federal funds rate within the new target range.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Federal Reserve System earnings date

Logotype for Federal Reserve System
FOMC Meeting10 Dec, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Federal Reserve System earnings date

Logotype for Federal Reserve System
FOMC Meeting10 Dec, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. Established by the Congress to provide the nation with a safe, flexible, and stable monetary and financial system, it performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. These include conducting the nation’s monetary policy, promoting the stability of the financial system, ensuring the safety and soundness of individual financial institutions, fostering payment and settlement system safety and efficiency, and promoting consumer protection and community development. The Federal Reserve is not a publicly listed company; instead, it is a federal institution that operates independently within the government, having both public purposes and private aspects. Its key decision-making body is the Federal Open Market Committee (FOMC), responsible for open market operations and monetary policy decisions. The system is headquartered in Washington, D.C.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage