What happens if the Fed holds fewer policy meetings

Federal Reserve chairman Kevin Warsh is reportedly weighing whether the central bank should hold fewer policy meetings each year.

Why it matters: Cutting the Fed's meeting schedule would be the biggest change to the process of monetary policymaking in decades, reducing the procedural burden on staff but giving policymakers fewer routine opportunities to adjust interest rates as the economy changes.

Driving the news: The New York Times reported Friday that Warsh raised the idea of holding fewer meetings to discuss interest rates, citing four people familiar with the matter.