Warsh: “Only 7 FOMC Meetings for Rate Decisions Next Year ... 6 the Year After”

[Financial News] Kevin Warsh, chair of the U.S. Federal Reserve (Fed), said on the 28th (local time) that he plans to reduce the number of Federal Open Market Committee (FOMC) meetings devoted to setting the benchmark interest rate starting next year.
Warsh made the remarks at a press conference held after the FOMC meeting that day.
The Fed held its benchmark interest rate steady at 3.75%–4.00% at the FOMC meeting that day.
Warsh said, “We think eight FOMC meetings a year is an appropriate number,” adding, “But in 2027, one meeting will be devoted solely to discussing broad monetary policy strategy. There will be no vote on the federal funds rate (FFR, the benchmark rate) or release of a policy statement at that meeting.”
He added, “The remaining meetings will be regular FOMC policy decision meetings, and in 2028 there will be two meetings for discussing strategy and six policy decision meetings.”
Warsh also referred to recent energy costs, saying, “Inflation is too high.”
He said, “Financial conditions have tightened as expected for some businesses and households,” adding, “It is true that overall financial conditions are tighter than before, but it is difficult to call them restrictive.”

[email protected] Lee Seok-woo, International Affairs Correspondent Reporter