Minutes from the Federal Reserve show Chair Warsh raised the idea of reducing the Federal Open Market Committee’s policy meetings from eight a year to six. The minutes said a six-meeting schedule, or roughly one meeting every two months, would allow more information to build up between meetings than under the current arrangement. It would also give policymakers and Federal Reserve staff more time to study and consider strategic issues tied to monetary policy. Warsh then asked committee members for their views on the proposal. The minutes also made clear that the number of meetings will not change this year. If adopted in the future, the shift would mark a significant change in how the Federal Reserve operates.
Federal Reserve meeting minutes show that Chair Warsh floated the idea of cutting the Federal Open Market Committee’s policy meetings from eight a year to six.
The minutes said that holding six meetings annually, or about one every two months, would let more information accumulate between meetings than under the current schedule. It would also leave policymakers and Federal Reserve staff with more time to study and consider strategic questions related to monetary policy.
Warsh then asked committee members for their views on the idea. The minutes made clear that the number of meetings will not be changed this year. If the meeting schedule is reduced, it would represent a major change in how the Federal Reserve operates.
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