The Fed Is Considering Fewer Policy Meetings. The Proposal Could Mark the Biggest Process Change in Decades.

The Fed has operated under its current schedule of eight regularly scheduled policy meetings since 1981 under the Reagan administration, making any reduction the biggest procedural overhaul in more than four decades. However, fewer scheduled meetings could also reduce the central bank's flexibility during periods of rapid economic change. Supporters of the idea argue that fewer meetings could streamline the central bank's operations. A reduction in scheduled meetings would not necessarily mean fewer policy changes. The Fed has historically left interest rates unchanged at many meetings, while officials retain the authority to act between scheduled sessions if conditions warrant.