The Humphrey-Hawkins Report is a semiannual report delivered to the United States Congress every February and July by the Federal Open Market Committee (FOMC). In the report, the FOMC comments on recent and projected U.S. economy and addresses monetary policy. The FOMC Chairman is required to review the economy's strengths and weaknesses. The Chairman will also offer an estimate of current inflation, GDP growth, unemployment and other key factors that play a role in overall U.S. economic health. Because of the information offered, this report can have a substantial impact on the markets, depending upon what is said. The report is the result of the Full Employment and Balanced Growth Act of 1978 and is named such after Senator Hubert Humphrey and Representative Augustus Hawkins, both of whom were the legislation's initial sponsors.