Typically, there are three policy alternatives--A, B, and C-ranging from dovish to hawkish, with a centrist one in between. This part of the Tealbook includes an analysis of each alternative and a draft of the associated public statement that the FOMC would release after the conclusion of its meeting.
Four times a year, before the March, June, September, and December FOMC meetings, Board members and Reserve Bank presidents submit their own projections for real gross domestic product (GDP) growth, the unemployment rate, inflation, and the Committee’s policy rate target, the federal funds rate.