Fed Drops October 2027 Rate Vote: Full 2027 Schedule & What Changes
The Federal Reserve will hold seven rate votes in 2027 instead of eight, after turning its October meeting into a strategy session with no decision.
Image: Wikimedia Commons / The White House
WASHINGTON, Nov. 13 — The Federal Reserve will vote on interest rates seven times in 2027 instead of the usual eight, after deciding its October meeting will be set aside for long-term strategy, with no rate decision and no policy statement, the central bank said on Thursday.
The change, published in the Federal Reserve's calendar for 2027, is part of Chair Kevin Warsh's wider plan to cut rate-setting meetings and shift the central bank's focus to long-term strategy. The Federal Open Market Committee will still meet eight times in 2027, but only seven will include a vote on the federal funds rate.
Key Takeaways
- The FOMC will hold eight meetings in 2027 but vote on rates at only seven.
- The October 26-27, 2027 meeting will be a strategy session, with no vote on the federal funds rate and no policy statement.
- The final rate decision of 2027 moves from December 7-8 to November 16-17, leaving no December meeting.
- In 2028, Chair Kevin Warsh expects two of the eight meetings to be strategy sessions, leaving six rate votes.
Full 2027 FOMC Meeting Schedule: Dates and Rate Votes
The calendar lists eight two-day meetings; October is the only one without a rate decision, and the meeting usually held in early December has been brought forward to mid-November. The full list is on the Federal Reserve's meeting calendars page.
| Meeting | Dates | Rate vote |
|---|---|---|
| January | Jan. 26-27 | Yes |
| March | March 16-17 | Yes |
| April | April 27-28 | Yes |
| June | June 8-9 | Yes |
| July | July 27-28 | Yes |
| September | Sept. 14-15 | Yes |
| October | Oct. 26-27 | No (strategy) |
| November | Nov. 16-17 | Yes (final vote) |
Each date stays tentative until confirmed at the preceding meeting; the Federal Reserve first published the 2027 dates in September 2025.
Why the Fed Is Cutting Rate Votes in 2027
Warsh, who became chair in May, flagged the change at his October press conference. "Getting policy right involves assessing near-term developments at timely, regular and information-rich intervals," he said, adding that the Committee also needs room for strategic deliberation over longer time horizons.
Several regional Federal Reserve presidents had signalled openness to a lighter schedule. The aim is to reduce the central bank's sway over markets and focus on long-term strategy, not short-term forecasts.
October was the logical choice: that meeting has historically fallen just before voters go to the polls, and the Federal Reserve has typically avoided rate moves at the meeting immediately before federal elections. In 2024, the Committee cut rates by half a point at its pre-election meeting, drawing a formal dissent from Governor Michelle Bowman, the first by a Fed governor since 2005.
What Fewer Fed Rate Votes Mean for Mortgage, Auto Loan and Savings Rates
The federal funds rate anchors borrowing costs, so fewer votes mean fewer scheduled chances to move it. After the final 2027 vote on November 17, the next comes on January 25-26, 2028 — a gap of more than two months.
For households, the effect is timing: mortgage, auto loan and savings rates still follow the Fed's decisions, but each 2027 meeting will carry more weight. The next decision comes at the December 8-9 meeting, after consumer prices rose 0.4% in October and officials including Christopher Waller signalled more aggressive tightening may be needed in December. A recent US jobs report has also pointed to a December move.
Frequently Asked Questions
How many times will the Fed vote on interest rates in 2027?
Seven times, down from the usual eight. The October 26-27 meeting will be given over to broad monetary policy strategy, with no vote on the federal funds rate and no policy statement.
When is the last Fed rate decision of 2027?
November 16-17, after the meeting usually held in early December was moved up to mid-November. There is no December meeting in 2027; the next vote comes on January 25-26, 2028.
Will the Fed still meet eight times in 2027?
Yes. The Committee will still hold eight meetings in 2027; only the October gathering drops the rate decision. Chair Kevin Warsh expects two of the eight meetings in 2028 to be strategy sessions, leaving six rate votes that year.
When is the next Fed meeting?
December 8-9, 2026, the final meeting of this year, with updated economic projections. It follows the October meeting at which officials paused their rate-hiking cycle, with two officials dissenting.
The next decision is due on December 9, the second day of the Fed's December 8-9 meeting.
