Fed minutes show officials have begun discussing a governor’s broader agenda,
including potential reforms to the Fed’s operating framework. Participants said
the upcoming balance-sheet-management review is an opportunity for a
comprehensive discussion, but many attendees reiterated that adjusting the
federal funds target range should remain the primary means of changing policy
stance rather than altering the Fed’s asset holdings. The governor asked the
C.BANK to consider cutting annual policy meetings from eight to six to allow two
full months of data between meetings; no decision has been taken and the 2026
meeting schedule will not change.
