Warsh Seeks Meeting Frequency Overhaul at Federal Reserve

U.S. Federal Reserve Chairman Kevin Warsh has proposed reducing the frequency of interest-rate-setting meetings, according to a report by The New York Times. This change would mark a significant shift in the Fed's operational approach and break with nearly half a century of practice.

The current schedule of eight regularly scheduled meetings per year was established under former Chair Paul Volcker in 1981. In emergency situations, such as during the COVID-19 pandemic or the 2007-2009 global financial crisis, the Fed has convened unscheduled meetings to address urgent circumstances.

Warsh's proposal would limit the information available about interest rate policy and the Fed's interpretation of inflation and job market trends. The move is seen as part of Warsh's efforts to implement a 'regime change' at the Fed, which he promised upon taking office two months ago.