Here are five key takeaways from the Fed rate decision and Warsh news conference

Kevin Warsh, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Oct. 28, 2026. Al Drago | Bloomberg | Getty ImagesThe Federal Reserve voted Wednesday to hold its benchmark interest rate steady. At the press conference that followed, Fed Chairman Kevin Warsh disclosed some of his thinking about where the U.S. economy stands, and how that affects monetary policy. But for Fed wonks, the big news may have been Warsh's disclosure of some procedural changes ahead.Here are five key takeaways:No surprises: Markets had been widely expecting the Fed to hold, and it did just that. In explaining its decision, the Federal Open Market Committee emphasized a patient approach, saying, "The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee's 2 percent goal."Well, one surprise: If there was one eyebrow-raising moment from the afternoon, it was Warsh's disclosure of changes in how the FOMC will meet. In 2027, the committee will still meet eight times, but one of the meetings will not entail a vote...