The Fed will vote on rates 7 times in 2027, with no decision in October

What was announced. The Fed published a revised tentative FOMC schedule for 2027. Dates: January 26-27, March 16-17, April 27-28, June 8-9, July 27-28, September 14-15, October 26-27 and November 16-17. As usual, the decision comes on the second day of each meeting. The one exception is October, which is dedicated to broad monetary policy strategy issues.

Where it comes from. According to CNBC, Fed Chair Kevin Warsh announced the idea at his news conference after the October meeting but did not say which meeting it would affect. He said the Fed needs time for strategic deliberation, not only reactions to the latest data. CNBC reports he signalled two nonvoting meetings in 2028.

Part of a bigger plan. Warsh wants the Fed to move markets less with words. CNBC reports that since he took over, the post-meeting statement has become much shorter and news conferences have shrunk to about half an hour. He has criticised the old habit of guiding markets in advance, which then tied policymakers' hands.

What changes for markets. In October 2027 there will be no vote and no post-meeting statement. The last decision of the year comes in mid-November. After it, the next decision is not until late January 2028, about 10 weeks later.

Confirmed facts

• On 12 November 2026 the Fed announced a revised tentative schedule of FOMC meetings for 2027.^[1]
• 2027 dates: January 26-27, March 16-17, April 27-28, June 8-9, July 27-28, September 14-15, October 26-27, November 16-17.^[1]
• The decision comes on the second day of each meeting except October 26-27, which is dedicated to broad strategy issues.^[1][2]
• There will be seven voting meetings in 2027, and October will have no vote and no statement.^[2]
• The final meeting of the year moves to November; it was previously set for December.^[2]
• The next FOMC meeting is December 8-9, 2026, and the first 2028 meeting is January 25-26.^[1][2]

Implications

• Confirmed2027 will have seven rate decision days instead of the usual eight.
• Our readingLonger gaps may make each meeting matter more, and Fed speeches in between become the main source of signals. This is our inference.
• Our readingIf inflation shifts sharply in autumn 2027, the Fed can still hold an unscheduled meeting, as it has in the past. This is our inference.

Still unknown

• Which meetings will have no vote in 2028.
• What exactly the Fed will discuss at the October 2027 strategy meeting.
• Whether the timing of Fed officials' projections will change.

Who it affects

United States, Global. Anyone trading the dollar, bonds, stocks or crypto who follows Fed decisions

Sources

1. Federal Reserve Board: Federal Reserve announces revised tentative schedule of Federal Open Market Committee meetings in 2027 November 12, 2026 · official
2. CNBC: In a policy switch, the Fed says its October 2027 meeting will not see a vote on interest rates November 12, 2026 · media