Federal Reserve Chairman Warsh plans to reduce the number of interest rate votes to just six times per year starting in 2028, which economists say could delay relief for borrowers.
Federal Reserve Chairman Warsh announced plans to reduce the number of interest rate setting votes over the next two years. Specifically, in 2027, one of the Federal Reserve's eight meetings will not include an interest rate vote, and in 2028, two meetings will not include a vote, meaning there will only be six opportunities to adjust interest rates annually (excluding emergency meetings). Some economists believe this move could delay relief for borrowers seeking lower borrowing costs, prolonging periods of uncertainty, and potentially keeping lending rates high even if economic conditions improve.
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