FOMC minutes show a Fed growing restless on inflation as Warsh floats six-meeting FOMC schedule for 2027

The minutes from the July 28-29 Federal Open Market Committee (FOMC) meeting showed members growing increasingly concerned about persistent inflation, with some insisting that price pressures were up even after discounting Iran, tariffs and other more transitory factors. Meanwhile, Fed Chair Kevin Warsh continued to shake things up, proposing a reduced schedule of six FOMC meeting beginning in 2027.