Warsh press conference summary: No rate hike unaffected by politics, schedule reform to be implemented next fall.

BlockBeats news, October 29 — Federal Reserve Chair Warsh has concluded the post-October FOMC meeting press conference. BlockBeats summarizes the key points as follows:

Warsh first affirmed the U.S. economic situation, stating that U.S. economic activity is expanding strongly: domestic spending has been resilient, productivity is strong, and capital investment is robust. However, he also warned that inflation remains elevated. "The Fed believes more information will help the FOMC judge its stance. The (FOMC) Committee will achieve price stability. Economic growth is strong." Warsh also added that credit conditions have tightened somewhat since the Fed's last rate hike, but he immediately stated: "I would neither want to nor could I describe it as 'restrictive.'"

When asked whether the midterm elections affected interest rate decisions, Warsh said "politics played no role."

On issues such as AI and oil prices, Warsh said that as oil prices continue to rise, interest rates have already fallen back. He expressed skepticism toward the view that "rate hikes will not affect AI," and noted that interest rates have had an impact on the tech sector.

Warsh also announced an adjustment to the Federal Open Market Committee (FOMC) meeting schedule starting next autumn. Eight meetings are expected to be held each year. The Fed will still hold 8 meetings as planned in 2027, but one of those meetings will not vote on the monetary policy rate and will instead be dedicated to discussing policy strategy. In 2028, two of the 8 meetings will be dedicated to discussing policy strategy and will not vote on the policy rate. These meetings will not be formal policy decision meetings.