Revising the FOMC Meeting Schedule: Separate Sessions for Monetary Policy Strategy

A Federal Reserve official explains the reasoning behind a change to the FOMC meeting schedule, balancing regular policy-setting sessions with dedicated time for long-horizon strategic deliberation. The remarks outline how meeting design is treated as an institutional choice rather than an administrative detail.

■ FOMC Meeting Schedule Changes
- Eight meetings per year maintained as the appropriate number
- 2027: one session devoted solely to broad monetary policy strategy, with no rate vote or policy statement anticipated
- 2028: two strategy-focused sessions alongside six policy-setting meetings

■ Rationale for the Change
- Assessing near-term developments at regular, information-rich intervals
- Reserving space for an intellectually diverse group to revisit larger questions over longer time horizons
- The schedule and agenda as a factor affecting deliberation quality and decision-making

Those interested in how central bank decision-making processes are organized, and in the Fed's approach to separating tactical rate decisions from strategic review, can follow the reasoning presented here.