Kevin Warsh calls the Fed’s new calendar “more than some administrative detail.” It goes to how he thinks policy should be made: less chasing of monthly data, more looking ahead. He was making the case back in 2017, when he explained why he recommended the Bank of England should meet less often: "I thought they were spending too much time preparing materials and not enough time doing this crazy thing—thinking hard about what's happening. Again, we're not in the physics business. The economy might well change in a month, but [we'd] be the last to know. The data that we get from the Department of Labor, Department of Commerce, that's bad data subject to revision."