Warsh raised changing frequency of Fed policy meetings, NYT reports

Fed Chair Kevin Warsh is considering reducing the frequency of the central bank's scheduled policy meetings, the New York Times reported Friday, July 31. (Bloomberg) He raised the proposal at this week's FOMC gathering; a Fed spokesperson declined to comment. (Yahoo Finance) The Fed currently meets eight times a year for two-day gatherings before announcing policy decisions. (Yahoo Finance) If adopted, the move would break with nearly half a century of practice — the most consequential operational shift yet under Warsh, who took over about two months ago promising "regime change." (Investment Watch Blog) It follows this week's 9-3 vote to hold rates steady, a decision investors balked at after Warsh declined to explain it or commit to supporting a hike if inflation doesn't slow. (Yahoo Finance) Warsh has also signaled he may cut back post-decision press conferences and has set up five task forces reviewing areas like communications, data, and the balance sheet.