Warsh Proposes Reduced Interest-Rate Meetings for US Federal Reserve

US Federal Reserve Chairman Kevin Warsh has proposed reducing the frequency of interest-rate-setting meetings to eight times a year, a move that would break nearly half a century of practice established under former Chair Paul Volcker.

This shift would significantly limit the information available to Wall Street and the public about the direction of interest rate policy, inflation, and the job market, according to the New York Times.

The current schedule has been in place since 1981, with eight scheduled meetings a year. In emergencies, such as during the COVID-19 pandemic or the 2007-2009 global financial crisis, Fed leaders have convened unscheduled meetings to address pressing circumstances.