Kevin Warsh said the Federal Reserve will vote on interest rates at only seven of its eight policy meetings next year, using the other meeting to discuss monetary-policy strategy more broadly.
In 2028, he said, the annual number of policy votes will fall to six.
Warsh has spoken before about the potential for the Fed to move to fewer annual policy decisions. More time between rate decisions could give policymakers the space to zoom out and review data more holistically. On the other hand, it raises the possibility that the Fed might be slower to react to fast-moving economic changes.
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