Fed Chair Kevin Warsh is pushing to hold fewer interest-rate meetings — meaning the unelected central bankers who control the value of your dollar would convene less often and answer to the public less frequently.

After five-plus years of inflation eating away at American paychecks, the Federal Reserve's answer isn't accountability. It's fewer meetings and vaguer statements. Warsh aired the idea of cutting the annual schedule from eight meetings to an unspecified lower number while the Fed gathered this week, according to the New York Times, and appears ready to decide before September.

Warsh has promised to cut back on the kind of verbose monetary pronouncements his predecessors were known for. Less talk sounds fine — until you realize it also means less scrutiny of the institution that sets the price of borrowing for every small business and homeowner in the country.

The timing is something. At just his second meeting as chairman, Warsh held rates steady — but three policymakers dissented, pushing for a rate hike instead. That is not a committee speaking with one voice. Meanwhile, Warsh's press conference performance left Wall Street scrambling. CNBC reported that his vague answers and muddled delivery "undermined himself and his carefully crafted message." Long-term Treasury yields rose, the dollar fell, and gold climbed — the market's verdict on a chairman it doesn't trust.

Some analysts concluded Warsh is doing President Trump's bidding, since Trump continues to publicly demand lower rates despite the Fed's supposed statutory independence. Whether Warsh is a hawk or a dove at this point is anyone's guess. He dismissed a Consumer Price Index report showing prices fell 0.4% in June — data that a dovish chairman would have seized on. Instead, Warsh said: "We understand that the five-plus years of inflation above target cannot be cured in nine weeks — or by a single month of modest price decreases."

Five-plus years. Read that again. The Fed has missed its own inflation target for over half a decade, and the chairman's response is to meet less often and talk less clearly.

Warsh did offer a tough line in his prepared remarks: "Where necessary and appropriate, we will not hesitate to act." But as CNBC noted, Fed chairs have a habit of making that exact pledge and then doing the opposite. Jerome Powell said the same thing in May 2022 before hiking rates a month later. Ben Bernanke promised accommodation and launched massive asset purchases. The words are cheap; the consequences hit your checking account.

The New York Post framed the meeting reduction as "one of the biggest changes to the body's operations in decades." CNBC buried the proposal entirely, focusing instead on parsing whether Warsh is secretly a hawk disguised as a dove. Neither outlet asked the question that matters: why should an institution that has failed its core mandate for five years get to meet less and explain itself less?

The Fed controls the value of every dollar you earn and spend. If Warsh gets his way, you'll hear even less about how and why.