FOMC (Federal Open Market Committee)

The Federal Open Market Committee is the monetary policymaking body of the Federal Reserve System. It meets eight times a year, roughly every six weeks, and sets a target range for the federal funds rate rather than setting the rate itself. It also directs the Federal Reserve's open market operations.

FOMC meetings are the most market-moving scheduled events in the economic calendar. Rate-sensitive sectors — utilities, REITs, financials — are especially affected in the days surrounding each meeting.

Further reading: Wikipedia