The Federal Reserve said its Federal Open Market Committee will set aside its October 2027 meeting, scheduled for Oct. 26-27, for discussion of broad monetary policy strategy issues. There will be no interest-rate vote and no post-meeting statement.
Chairman Kevin Warsh first announced the change at his news conference after the FOMC met in October. The move is part of his initiative to streamline the central bank’s communications.
Why the Fed wants more deliberation time
Warsh said assessing near-term developments at regular intervals is only part of the job. He argued the committee must also reserve time for strategic deliberations, thinking anew about big questions and looking out over longer horizons.
He described the meeting schedule as an institutional choice. In his words, it affects the nature and quality of the committee’s deliberations and, ultimately, the wisdom of its decisions.
Shorter statements and press sessions
Warsh has criticized the Fed’s earlier communications strategy, saying forward guidance handcuffed policymakers. Since he took over, the post-meeting statement has been shortened dramatically.
Press question-and-answer sessions have also been cut to about 30 minutes, from roughly 45. The 2027 final meeting moves from December to November.
Source: Federal Reserve
