The December 2025 FOMC meeting began on Tuesday, December 9, 2025, and concludes today, Wednesday, December 10, 2025. The Federal Reserve will release its policy decision and an updated Summary of Economic Projections (SEP) at 2:00 p.m. EDT, followed by a press conference with Chair Jerome Powell at 2:30 p.m. EDT.
Meeting Details
The December meeting is the final one of 2025 and is associated with the release of the "dot plot," which details FOMC members' interest rate projections for the coming years, including 2026.
Dates: December 9–10, 2025
Policy Announcement Time: 2:00 p.m. EDT on December 10
Jerome Powell Press Conference: 2:30 p.m. EDT on December 10
Associated Materials: The meeting includes an updated Summary of Economic Projections (SEP), which contains the "dot plot".
Market Expectations
Markets widely anticipate another 25 basis point (0.25%) interest rate cut at this meeting, which would bring the federal funds target range down to 3.50%–3.75%. This would mark the third consecutive rate cut after similar reductions in September and October, which were a response to a cooling labor market and elevated inflation.
However, the decision is not without debate, as Fed officials remain notably divided on the appropriate path forward, with some favoring more cuts and others urging caution due to inflation still being above the 2% target. The lack of recent key economic data due to a government shutdown has further complicated the decision-making process. Investors will be keenly watching Jerome Powell's press conference for clues on the future pace of rate adjustments in 2026.
