Warsh Eyes Rate Meeting Cuts Amid Shift Toward More Centralized Control

Federal Reserve Chair Kevin Warsh is considering reducing the number of regularly scheduled meetings at which the Fed sets interest rates. This move would mark a significant change in how the central bank operates, one that could have far-reaching implications for the economy.

The Federal Open Market Committee meets eight times a year and votes on whether to lift, lower or hold borrowing costs. Warsh raised this idea of changing the frequency of those meetings at the Fed's gathering last week.

Warsh has expressed concerns about the information available to Wall Street and the broader public about the Fed's thinking on interest rates. He has dramatically shortened policy statements and reduced detail in his views on the economy and rate direction.