Bloomberg Podcasts · Fewer Federal Reserve Meetings Could Fuel Market Volatility

1. 1. New York Times reports Kevin Warsh is considering cutting the number of FOMC meetings per year, undoing decades of precedent.
2. 2. Michael McKee argues fewer Fed meetings would reduce planning opportunities for markets and companies, making policy less efficient.
3. 3. Jonathan Garland compares fewer Fed meetings to companies reporting semiannually, saying it would increase uncertainty and volatility, lowering asset values.
4. 4. Garland says the most important factors for stocks are credit spreads and the long end of the yield curve, not short-term rates.
5. 5. Warsh said he asked for a 'good family fight' and got one, indicating open debate among Fed officials.
6. 6. McKee notes at least six FOMC members, including Alberto Musalem and Jeff Schmid, are considering raising rates, which will drive market volatility.
7. 7. Garland says this is the best earnings season ever outside of tech, with overall earnings expected up 50% year-over-year.