Federal Reserve Chairman Walsh was informed that consideration was being given to reducing the frequency of Federal Reserve policy meetings

ON 1 AUGUST, IT WAS REPORTED THAT FEDERAL RESERVE CHAIRMAN WALSH HAD BEEN INFORMED THAT CONSIDERATION WAS BEING GIVEN TO REDUCING THE NUMBER OF REGULAR INTEREST RATE DECISION-MAKING MEETINGS HELD BY THE FEDERAL RESERVE, AN INITIATIVE THAT COULD TRIGGER A MAJOR SHOCK AND WOULD MARK THE MOST SIGNIFICANT CHANGE IN THE WAY IN WHICH THE FEDERAL RESERVE OPERATED IN RECENT YEARS. CURRENTLY, THE FEDERAL RESERVE'S 12-MEMBER FEDERAL OPEN MARKET COMMISSION (FOMC) MEETS EIGHT TIMES A YEAR TO VOTE ON WHETHER TO INCREASE, LOWER OR MAINTAIN BORROWING COSTS。