Fed will vote on rates less often. What that could mean for borrowers

Fed Chairman Kevin Warsh said he plans to reduce the number of Federal Reserve rate-setting votes, a change some economists warn could delay relief for borrowers. The move would mean fewer formal opportunities each year for the central bank to adjust interest rates, potentially slowing the pace at which rate cuts reach consumers with mortgages, auto loans and credit cards. Economists caution that a less frequent voting schedule could leave policy locked in place for longer stretches even as economic conditions shift. For markets, the restructuring could reduce the number of scheduled catalysts for repricing expectations around borrowing costs. Watch for details on the proposed voting calendar, any timeline from the Fed, and whether regional Fed presidents or the Board of Governors push back on the plan.