Warsh Suggests Slashing Fed Meeting Frequency

US 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 move would mark a significant departure from nearly five decades of practice, established under former Chair Paul Volcker in 1981.

The Fed currently holds eight scheduled meetings per year, with additional unscheduled gatherings convened during emergencies like the COVID-19 pandemic or the 2007-2009 global financial crisis.

Warsh's suggestion would reduce the transparency of interest rate policy and the Fed's interpretation of inflation, employment, and economic data. The move is part of his promise to bring 'regime change' to the Fed since taking over two months ago.