Warsh Proposes Shrinking Fed's Meeting Schedule

U.S. Federal Reserve Chairman Kevin Warsh has proposed reducing the frequency of its regularly scheduled meetings to set monetary policy, according to a report by The New York Times.

This would mark a significant shift from the current practice, which dates back nearly five decades. Since 1981, the Fed has held eight scheduled meetings per year, a schedule established under former Chair Paul Volcker.

Warsh's proposal would reduce the transparency of the Fed's interest rate policy and its interpretation of inflation and job market data. The move is seen as part of his promise to bring about 'regime change' at the Fed.