Federal Reserve Meeting Minutes: Warsh Pushes to Reduce Number of Policy Meetings Per Year

Odaily News - Federal Reserve meeting minutes show that Fed Chair Warsh proposed an idea: reducing the number of Federal Open Market Committee (FOMC) policy meetings per year from 8 to 6.

The minutes state: "The Chair noted that holding 6 meetings per year, approximately every two months, would allow more information to accumulate between meetings than under the current schedule, while also giving policymakers and Fed staff more time to research and consider strategic issues in monetary policy."

Subsequently, Warsh solicited committee members' views on this idea. The minutes clearly indicate that the number of meetings will not be adjusted this year. Reducing the number of policy meetings would signify a major change in the way the Federal Reserve operates. (Jin Shi)