Fed Policymakers to Reduce Number of Policy-Setting Meetings Next Year: Warsh Press Conference
- On Wednesday, the Federal Reserve kept its benchmark interest rate unchanged at approximately 3.9%, offering limited guidance on future policy moves despite continued elevated inflation.
- Last month, Chairman Kevin Warsh led the central bank to raise rates to 3.9% for the first time in three years, moving against President Donald Trump's demands for rate cuts to steer inflation toward the 2% target.
- Two officials dissented from Wednesday's determination, as Fed governor Lisa Cook and Federal Reserve Bank of Cleveland President Beth Hammack cast votes advocating for a quarter-point rate increase.
- "Inflation remains elevated," the central bank stated, noting that pausing rate increases allows for "the accumulation of more information" to ensure a return to the 2% inflation goal.
- Aditya Bhave, head of U.S. economics at Bank of America, warned that "unless the Fed takes this problem more seriously and stops essentially making excuses about inflation, I think we're not going to get back to 2% until the next recession.
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19 Articles
Fed to cut back on the number of rate-setting meetings in coming years, says Warsh
Fed Chairman Kevin Warsh said the central bank will cut back on the number of meetings where members vote on rates. "We believe eight meetings per year is the right number for the FOMC, but in 2027, one meeting will focus exclusively on broad monetary policy strategy, with neither a vote on the federal funds rate nor a policy statement anticipated," Warsh said.
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Warsh Announces A New Type of Fed Meeting Focused on Strategy
The Federal Reserve will change its calendar next year to dedicate one of its eight meetings to a broad discussion of monetary policy strategy rather than deciding the appropriate policy rate, Fed chairman Kevin Warsh said Wednesday. Warsh said that
Fed policymakers to reduce number of policy-setting meetings next year: Warsh press conference
Starting next year, the Federal Open Market Committee will make policy decisions at seven meetings, not the usual eight, Federal Reserve Chair Kevin Warsh said Wednesday after the Fed's decision to keep rates unchanged.
The Independent
The Independent (US)Trump's Federal Reserve holds interest rates steady despite inflation concerns
By keeping interest rates on hold on Wednesday, Warsh will be called upon to clarify why policymakers raised rates in September but opted against doing so this month
The cost of money, in line with expectations, remains in the fork between 3.75% and 4%. Warsh announces a reduction in Fomc meetings
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