What are the FOMC minutes?
In one line: The FOMC minutes are the Fed's written summary of what officials discussed at a rate meeting, released about three weeks after the decision.
What they are
The FOMC meets eight times a year to set US interest rates. On decision day you get a short statement at 2:00 pm ET and a press conference at 2:30 pm.
The minutes come later. They're a longer write-up of the debate behind the decision. The Fed generally releases them three weeks after the decision day, at 2:00 pm ET.
They don't name who said what. They use words like "many," "some" and "a few participants."
A simple example
Say the Fed held rates steady. The statement sounded calm. Three weeks later, the minutes say "several participants" thought another Rate hike might be needed.
That's new detail. It shows more officials leaning toward higher rates than the statement let on. Traders may then push yields up a little and adjust how many cuts they expect.
Why it matters
The minutes fill in the "why." They show how split the officials were, what worried them (prices, jobs, banks) and what might change their minds. That links to the Fed's Forward guidance.
Most of the time the reaction is smaller than on decision day, because the big news is already known. But a surprise in the wording can still move bonds, the dollar, gold and stocks. Check the economic calendar so 2:00 pm doesn't catch you mid-trade.
A common mistake
Reacting to the first headline. News feeds race to pull one line out of a long document. The first move can reverse once people read the rest.
If you have a trade open into the release, know your stop is in place. If you're flat, waiting 15–30 minutes is a simple, calm rule.
Questions
When are FOMC minutes released?
Generally three weeks after each scheduled meeting's decision, at 2:00 pm Eastern Time. Dates are on the Fed's website at federalreserve.gov.
What is the difference between the FOMC statement and the minutes?
The statement is the short decision released on meeting day. The minutes are a longer summary of the discussion, out three weeks later.
Want the next step? We'll walk you through it.
Four free lessons by email, one every few days — each with a 10-minute exercise on a real chart.
Send Me the Free Lessons 4 short emails · No spam · Unsubscribe anytimeOr see the whole method, step by step:
See What’s Inside the Course Try everything free first. Decide when you're ready. · Open the free chart tool (works in the TradingView phone app)One chart idea a day, in plain English. Follow along: