Last updated: 16 October 2026 When does the Fed go quiet before each rate decision, and how much do its leaders talk the rest of the time? This page lists every FOMC blackout window for 2025 to 2027, worked out from the Fed’s own rule and meeting calendar, and counts the speeches and discussions the Fed Board’s official calendar lists since January 2025.
The Fed’s quiet period before the 27–28 October 2026 meeting runs from 12:00 a.m. ET on Saturday 17 October to 11:59 p.m. ET on Thursday 29 October. That is 13 days in which policymakers don’t give their views on the economy or rates in public.
The next one, for the 8–9 December meeting, runs 28 November to 10 December. All eight 2027 windows are below, worked out from the Fed’s published 2027 meeting dates.
The Fed Board’s calendar lists 98 speeches and discussions by the Chair, Vice Chairs and Governors in 2026 through 15 October, against 114 in the same stretch of 2025 (146 in all of 2025).
14 of the 244 Board speeches and discussions listed since January 2025 fell inside a blackout window, and all 14 were on other subjects, such as bank supervision, payments or a commencement address. The policy limits views on the economy and monetary policy, not every public appearance.
Upcoming blackout periods
| FOMC meeting | Blackout starts (12:00 a.m. ET) | Blackout ends (11:59 p.m. ET) | Days |
|---|---|---|---|
| Tue 27 Oct 2026–28 Oct | Sat 17 Oct 2026 | Thu 29 Oct 2026 | 13 |
| Tue 8 Dec 2026–9 Dec * | Sat 28 Nov 2026 | Thu 10 Dec 2026 | 13 |
| Tue 26 Jan 2027–27 Jan | Sat 16 Jan 2027 | Thu 28 Jan 2027 | 13 |
| Tue 16 Mar 2027–17 Mar * | Sat 6 Mar 2027 | Thu 18 Mar 2027 | 13 |
| Tue 27 Apr 2027–28 Apr | Sat 17 Apr 2027 | Thu 29 Apr 2027 | 13 |
| Tue 8 Jun 2027–9 Jun * | Sat 29 May 2027 | Thu 10 Jun 2027 | 13 |
| Tue 27 Jul 2027–28 Jul | Sat 17 Jul 2027 | Thu 29 Jul 2027 | 13 |
| Tue 14 Sep 2027–15 Sep * | Sat 4 Sep 2027 | Thu 16 Sep 2027 | 13 |
| Tue 26 Oct 2027–27 Oct | Sat 16 Oct 2027 | Thu 28 Oct 2027 | 13 |
| Tue 7 Dec 2027–8 Dec * | Sat 27 Nov 2027 | Thu 9 Dec 2027 | 13 |
* Meetings with a Summary of Economic Projections (the “dot plot”) and, like every meeting, a press conference on the second day. Statements come out at 2:00 p.m. ET on the final day.
The rule comes from the FOMC’s Policy on External Communications of Committee Participants: the blackout starts at 12:00 a.m. ET on the second Saturday before a meeting and ends at 11:59 p.m. ET the day after it. If the Friday before that Saturday is a federal holiday, it starts on the Friday instead. None of the meetings above hit that exception.
What the blackout means for traders
During the window, the 12 voting members and the other Reserve Bank presidents stop giving views on the economy and policy. The Fed still publishes its scheduled data, and the Chair’s press conference on the final day ends the silence. Many traders read the last speeches before the blackout as the Fed’s final signal. Several firms also restrict trading around the decision itself; our prop firm news-trading calendar lists which firms do and how far either side of 2:00 p.m.
Fed Board speeches by month
| Month | 2025 | 2026 |
|---|---|---|
| January | 5 | 6 |
| February | 18 | 14 |
| March | 8 | 13 |
| April | 14 | 10 |
| May | 16 | 15 |
| June | 12 | 5 |
| July | 10 | 11 |
| August | 6 | 3 |
| September | 8 | 11 |
| October | 27 | 10 (to 15 Oct) |
| November | 18 | — |
| December | 4 | — |
Speeches and discussions by official
| Official (latest title on the Fed calendar) | 2025 | 2026 to 15 Oct |
|---|---|---|
| Michelle W. Bowman | 27 | 28 |
| Michael S. Barr | 27 | 18 |
| Christopher J. Waller | 25 | 18 |
| Lisa D. Cook | 13 | 12 |
| Philip N. Jefferson | 13 | 8 |
| Stephen I. Miran | 12 | 8 |
| Jerome H. Powell | 13 | 3 |
| Kevin Warsh | 0 | 3 |
| Adriana D. Kugler | 16 | 0 |
These counts cover the seven members of the Board of Governors only. Speeches by the 12 Reserve Bank presidents aren’t on the Board’s calendar. Officials who left or joined the Board during the period are included for the months they served.
Blackouts earlier in 2026
Appearances inside a blackout are allowed when they stay off the economy and monetary policy. The CSV flags each one.
| FOMC meeting | Blackout | Board speeches inside it |
|---|---|---|
| Tue 27 Jan 2026 | Sat 17 Jan 2026 to Thu 29 Jan 2026 | 0 |
| Tue 17 Mar 2026 | Sat 7 Mar 2026 to Thu 19 Mar 2026 | 2 |
| Tue 28 Apr 2026 | Sat 18 Apr 2026 to Thu 30 Apr 2026 | 1 |
| Tue 16 Jun 2026 | Sat 6 Jun 2026 to Thu 18 Jun 2026 | 1 |
| Tue 28 Jul 2026 | Sat 18 Jul 2026 to Thu 30 Jul 2026 | 0 |
| Tue 15 Sep 2026 | Sat 5 Sep 2026 to Thu 17 Sep 2026 | 0 |
Decision days: for how much Treasury yields and the dollar moved on the 46 FOMC decision days since 2021, see FOMC decision-day market moves.
Sources
- FOMC Policy on External Communications of Committee Participants (reaffirmed effective 27 January 2026), section 7 and footnote 4.
- Federal Reserve: Meeting calendars and information (2025, 2026 and 2027 meeting dates), read 16 October 2026.
- Federal Reserve Board calendar (JSON feed behind it), read 16 October 2026: every item typed “Speeches”.
- OPM federal holidays, for the holiday exception.
Method
Blackout windows apply the policy text to each meeting date: start at 12:00 a.m. ET on the Saturday ten days before a Tuesday start, end at 11:59 p.m. ET on the Thursday after a Wednesday finish, with the Friday-holiday exception checked against the federal holiday list. Each window was checked against the policy’s worked example.
Speech counts include every Board calendar entry typed “Speeches” dated 1 January 2025 to 15 October 2026, which covers formal speeches, moderated discussions, panels and lectures. Each one is assigned to the official named in its title.
Caveats
The blackout rule can change and the Fed can call unscheduled meetings, which have no set quiet period. Check the Fed’s calendar before relying on a date.
The Board calendar lists upcoming events in advance and can add or drop events, so counts for recent weeks may move. Some events late in the evening ET are overseas events dated by their ET listing.
Reserve Bank presidents are covered by the same blackout but their speeches are not counted here.
How to cite this
Prop Data Lab, “FOMC Blackout Period Calendar and Fed Board Speech Count”, updated 16 October 2026, https://propdatalab.com/fomc-blackout-period-calendar-fed-speeches/
The table and the CSV are free to reuse under CC BY 4.0: copy, chart or republish them, commercial use included, as long as you link back to this page. Meeting dates and calendar entries are from federalreserve.gov (US government work).
Common questions
When does the Fed blackout start in October 2026?
At 12:00 a.m. ET on Saturday 17 October 2026, ten days before the 27–28 October FOMC meeting. It ends at 11:59 p.m. ET on Thursday 29 October.
What is the FOMC blackout period?
A quiet period set by the FOMC's external communications policy. From the second Saturday before a scheduled meeting until the day after it, Fed policymakers don't express views on the economy or monetary policy to the public.
When is the December 2026 Fed blackout?
From 12:00 a.m. ET on Saturday 28 November to 11:59 p.m. ET on Thursday 10 December 2026, around the 8–9 December meeting.
Do Fed officials ever speak during the blackout?
Yes, but not about the economy or rates. The Chair holds a press conference after each decision, and 14 of the 244 Board speeches and discussions on the Fed's calendar from January 2025 to 15 October 2026 fell in a blackout. All 14 were on other topics such as bank supervision, payments or community development.