Should the Fed hold fewer meetings? Here’s what experts have to say

Summary

The panel discusses the Fed's July minutes and whether the Fed should hold fewer meetings per year. Rebecca Patterson highlights the hawkish risk that many participants would support another rate hike if inflation does not moderate, with more inflation data still ahead. JJ Kinahan argues that fewer Fed meetings would not matter much by themselves, but would become a problem if communication is reduced because that would add volatility and be unhealthy for markets.

• Fed minutes show many participants favored a rate hike if inflation does not moderate before September.
• Rebecca Patterson notes recent CPI and PPI were softer, but PCE and September CPI are still ahead.
• JJ Kinahan says eight Fed meetings versus six is not a big deal if press conferences and communication continue.
• He warns fewer meetings with less information would add volatility, gamma, and wild inter-meeting speculation.
• Rebecca Patterson says eight-to-six meetings is not the end of the world if communication remains strong.
• Both see reduced communication as a bigger risk than the number of meetings itself.