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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Federal Reserve minutes are the Federal Open Market Committee’s (FOMC’s) public summary of the discussion and decisions at a meeting. They explain participants’ views and the reasoning behind the Committee’s actions, and record policy actions, votes, and attendance. They are published after the decision—not as a live announcement or a word-for-word transcript.
What are the Federal Reserve minutes?
The minutes are a timely account of significant policy issues discussed at an FOMC meeting. They describe policymakers’ expressed views and explain the reasons for Committee decisions. They also identify attendees and record policy actions and votes. The Federal Reserve’s minutes FAQ describes their purpose and contents.
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They are a summary, not a verbatim record. Participants’ comments and assessments help explain the discussion, but should not be confused with the action the Committee formally took. To establish that action, look for the policy decision and recorded vote.
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When do Fed minutes come out?
Minutes of regularly scheduled meetings are generally published three weeks after the day of the policy decision. The FOMC holds eight regularly scheduled meetings each year, with additional meetings as needed. Dates can vary, so use the Federal Reserve’s meeting calendar to check the specific release date rather than assuming a fixed weekday.
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For example, minutes of the June 16–17, 2026 meeting were released on July 8, 2026. The June 2026 minutes also state that their descriptions of economic and financial conditions are based on information available to the Committee at the time of the meeting.
How do you read the FOMC minutes?
- Note the meeting date. Establish when the discussion took place before interpreting its description of the economy or policy outlook.
- Read the policy statement first. The statement communicates the decision when it is announced. The minutes arrive later and add detail about the discussion and reasoning. The Federal Reserve explains how these disclosures fit together in its FOMC public-disclosure FAQ.
- Read the economic and financial sections for context. These sections describe developments and conditions participants considered. In the June 2026 example, the minutes begin with financial-market developments and open market operations, then discuss participants’ views on current conditions and the outlook.
- Separate discussion from formal action. Participants may express different assessments or preferences. Check the policy-action and voting sections to see what the Committee decided and how the vote was recorded.
- Keep the information boundary in mind. The minutes describe the information available at the meeting, not data published afterward. The Board of Governors put it this way in the July 8, 2026 release of the June 16–17 minutes: “The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting.”
How minutes differ from other Fed communications
| Material | What it is for | Timing and detail |
|---|---|---|
| Policy statement | Communicates the announced policy decision and its rationale. | Issued with the meeting decision; shorter than the minutes’ account of deliberation. |
| Press conference | Lets the Chair explain the decision and answer questions orally. | Associated with the meeting; it is not the written record of the full discussion. |
| Summary of Economic Projections (SEP) | Presents participants’ economic projections when published. | Published as a separate communication; it is not the minutes themselves. |
| Minutes | Summarize discussion and reasoning, and record policy actions and votes. | Generally published three weeks after the policy decision. |
| Transcript | Provides a more detailed historical record of the meeting. | Released after about five years, rather than three weeks. |
The Federal Reserve’s historical materials page describes minutes, projections, and transcripts. The current three-week publication interval followed a December 2004 decision to expedite release; before that change, minutes became public after the next meeting.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What can the minutes tell you—and what can’t they?
They can show what participants discussed, the reasoning behind a decision, and whether the recorded vote reflected the action taken. They cannot be treated as a real-time update: the economic picture may have changed after the meeting. Nor do the minutes establish what the Committee will certainly do at a future meeting. They are evidence about a particular discussion and decision, not a guaranteed forecast.
For the next scheduled meeting or minutes release, consult the Federal Reserve’s calendar and meeting information. For the broader explanation of what the FOMC is and when it meets, see the Board’s FOMC FAQ.
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