Federal Reserve Reduces 2027 Rate Decision Calendar to Seven
Federal Reserve Chair Kevin Warsh reduced the number of annual rate decisions for 2027 from eight to seven, sparking a decline in long-term Treasury bonds.
Kevin Warsh, Chair of the Federal Reserve, revised the tentative 2027 meeting calendar to reduce the number of annual rate decisions from eight to seven. The new schedule removes the December 2027 meeting entirely and designates the October 26-27 session for broad monetary policy strategy discussions, which will not result in a rate decision or official statement.
Warsh first announced the shift during an October 28 news conference, arguing that the meeting schedule is an institutional choice that affects how well officials debate. In addition to the calendar changes, Warsh has criticized the use of heavy forward guidance.
Bond markets reacted negatively to the announcement. The iShares 20+ Year Treasury Bond ETF fell 1.48% as investors anticipated higher volatility and increased risk for long-maturity Treasuries resulting from the longer gaps between policy decisions.
