Fed's Warsh announces changes in how future FOMC meetings will go
TLT•The Fed will dedicate one of its eight scheduled meetings in 2027 and two in 2028 to strategic discussions, with no monetary policy decisions planned at those meetings.
1. Meetings set aside for strategy
Fed Chair Kevin Warsh said one FOMC meeting in 2027 will focus exclusively on broad monetary policy strategy, with no federal funds rate vote or policy statement anticipated. In 2028, he expects two meetings for strategy discussions and six for setting policy.
2. Possible policy timing effects
The new schedule may reduce the Fed’s ability to respond to fast-moving economic changes, though it can still change policy outside scheduled meetings. Warsh said the format for communicating after strategy meetings is still under consideration. Inflation Insights president Omair Sharif said he believes October will be the first meeting without rate deliberations in 2027, potentially leaving a 12-week gap between policy changes.
