Fed Says FOMC Meeting to Go Ahead as Planned Jan. 26-27by
Officials unable to attend in person can use video conference
Fed postpones all releases until government offices reopen
The Federal Reserve said its meeting to decide interest rate policy will proceed as planned on Tuesday and Wednesday, though participants unable to attend in person can take part via video conference.
Fed offices in Washington as well as the federal government were closed Monday following a severe winter storm which has disrupted travel in the region. The Fed said all previously scheduled releases for Monday will be postponed until the next business day government offices are open.
The U.S. central bank can conduct meetings of the Federal Open Market Committee by conference call if necessary. On March 4, 2014, for example, the committee met by video conference to discuss policy strategy prior to a regularly scheduled meeting later that month.
The Washington-to-New York corridor is recovering from a weekend storm that brought the region to a standstill, cut power to several hundred thousand customers, and was blamed for at least 18 deaths.
Snow totaled 29.2 inches (74 cm) at Baltimore-Washington International Airport, the most since Baltimore began keeping records in 1892. Cleanup efforts on roads are still under way. Washington’s Reagan National airport said it expected to operate limited flight schedules on Monday.