By law, the FOMC must meet at least four times each year in Washington, DC. Since 1980, eight regularly scheduled meetings have been held each year. If circumstances require consultation or consideration of an action between regularly scheduled meetings, members may be called upon to participate in a special meeting or a telephone conference.
BIS Review 6/1999  –2–  So what happens at these meetings? The order and structure of these meetings may change over time, but has been pretty much fixed during my term on the Board. Before each regularly scheduled meeting of the FOMC, System staff members prepare written reports on past and prospective economic and financial developments, which are sent to Committee participants.