Fed Reserves One 2027 Meeting for Strategy, Leaving Seven for Rate Decisions

Federal Reserve Chair Kevin Warsh said the committee will devote one of its eight annual meetings to long-term strategy in 2027, leaving seven sessions for decisions on interest rates.

The Federal Open Market Committee (FOMC) will retain eight meetings annually. Warsh also outlined two strategy sessions and six policy-setting meetings for 2028, keeping the same total while making more room for longer-term discussions.

No federal funds rate vote or policy statement is anticipated at the 2027 strategy meeting. The date of the 2027 strategy meeting has not been identified.

On Wednesday, Oct. 28, the FOMC voted 10-2 to keep its federal funds target range at 3.75% to 4%. Two officials favored raising the range by a quarter point.

Warsh said interest rates affect investment in artificial intelligence and noted that investors have become more selective as credit spreads widened for some assets. He declined to signal how the Fed will decide in December, saying, “I also don’t believe in prejudging meetings.”