At least one‑third of Federal Reserve officials said they would consider
reducing the number of scheduled meetings used to set policy rates, creating an
early opening for a structural change proposed by the incoming chair. The FOMC
has not discussed any details and adoption remains uncertain. Several regional
Fed presidents, including the chiefs of Cleveland, Kansas City and Philadelphia,
were among six who recently signaled willingness to cut regular rate‑setting
meetings. Officials who are open to the idea want more analysis of the
trade‑offs and to consider bundling the change with communications adjustments.
Fewer meetings would represent a material operational shift and distinguish the
Fed from major overseas peers, which hold eight policy meetings a year (ECB,
BoE, BoJ). It is unclear whether the proposal will be discussed at the Sept.
15‑16 meeting, where elevated inflation and the prospect of the first rate
increase in three years may dominate.
