Warsh: Fed to Trim Policy Meetings, With Only 6 Rate Decisions in 2028

October 29 — Bloomberg reported that Fed Chair Warsh said at the post-meeting press conference that the Federal Reserve will adjust its meeting schedule in stages starting next year. Warsh said eight meetings a year is the appropriate number for the FOMC, but one of the eight meetings in 2027 will be converted into a strategic discussion session with no rate vote, rising to two in 2028, at which point the number of meetings held each year to decide rates will fall to six. Warsh first proposed reducing the number of policy meetings at the July meeting so that more data can accumulate between meetings. The Fed had earlier kept rates unchanged by a 10-2 vote. Separately, Bloomberg reported that bond traders are now pricing in roughly a 90% probability of a Fed rate hike in December.