Warsh Seeks to Revamp Fed Meeting Schedule

Kevin Warsh, chairman of the Federal Reserve, has suggested changing the frequency and timing of the central bank's policy meetings. According to sources, one idea floated by Warsh is for Fed policymakers to meet six times a year to decide on interest rates and other monetary policy issues, and twice a year for discussion of a substantive economic topic.

The current schedule sees the Federal Open Market Committee (FOMC) meeting eight times a year in Washington. A reduction in the number of policy meetings would mark a significant shift in how the central bank operates.

The discussion also centered on whether the schedule of policy decisions can be better aligned to coincide with major economic data releases and other information, with an objective of improving overall decision-making.