Fed May Cut Rate Decisions to Six a Year From 2028

Federal Reserve Chair Kevin Warsh said the Fed plans to gradually adjust its annual policy-meeting schedule from 2027, potentially reducing formal rate decisions to six per year by 2028 while maintaining eight total meetings. In 2027, the Fed would still hold eight policy meetings, but one would be dedicated to broad monetary-policy strategy without a rate vote or policy statement. Warsh said the number of strategy-focused meetings could increase to two in 2028. Following a rate decision described as in line with market expectations, the 2-year Treasury yield traded near 4.76%. Long-term Treasury yields rose after Warsh’s comments on changing the voting schedule, according to WisdomTree investment strategy head Kevin Flanagan. The proposal shifts time from formal rate decisions toward longer-term policy deliberation. The Fed said further details on the meeting-schedule changes will be released.