US Federal Reserve Chairman Walsh announced at a press conference on the 28th that the frequency of interest rate discussions at the Federal Open Market Committee monetary policy meetings will be gradually reduced from 2027 to 2028. Walsh said the Federal Open Market Committee will still hold eight monetary policy meetings each year. However, in 2027, there will be a monetary policy conference focusing on broad monetary policy strategies, without voting on federal funds rates, and not issuing monetary policy statements; in 2028, there will be two monetary policy meetings dedicated to discussing monetary policy strategies. Walsh said that the Federal Reserve has already made a decision on this, and the new FOMC schedule will be implemented starting next fall. Walsh was sworn in as chairman of the Federal Reserve on May 22. He announced on June 17 that the Federal Reserve will set up five independent working groups to advance its reform agenda. These five working groups evaluate monetary policy communication, balance sheet policies, economic data, productivity and employment, and the inflation framework.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.