Summary

The Federal Reserve will vote on interest rates less frequently beginning next year as part of a plan by the central bank’s chairman, Kevin M. Warsh, to overhaul how it operates. When officials at the Federal Reserve meet next month to vote on interest rates, they will have only a partial snapshot of the economy in hand. Fresh inflation data comes out the day after policymakers finalize their rate decision, leaving them without insight into whether price pressures in November continued to accelerate or showed signs of easing.

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