Dubai: The US Federal Reserve will cut the number of meetings at which it sets interest rates in 2027 and 2028. Chairman Kevin Warsh announced the change during his October rate meeting discussion and said that the move was intended to create room for longer-term strategy discussions. The Federal Open Market Committee (FOMC) will keep its eight meetings that take place bi-monthly all year round. However, the rate-setting sessions will drop down to seven in 2027 and six in 2028. The remaining meetings, one in 2027 and two in 2028, will focus on monetary policy strategy. The Fed unveiled the plan on the day it held its benchmark rate at 3.75 to 4 percent. That pause follows a quarter-percentage-point increase in September. Strategy sessions will not ordinarily include votes on the federal funds rate. The Fed does not expect monetary policy statements after them.
