New Delhi, Oct. 29 -- The Federal Reserve left interest rates unchanged Wednesday, but Chair Kevin Warsh had plenty of other changes in mind.

Warsh announced plans to overhaul the central bank's meeting schedule, reducing the number of times policymakers formally vote on interest rates each year and setting aside more time for broader discussions about monetary policy.

Nearly half a year into his tenure, Warsh is beginning to put his stamp on the institution. But while his plans for how the Fed should operate are coming into focus, Wednesday's press conference offered little clarity about what would persuade policymakers to raise interest rates again.

The Fed held its benchmark rate steady between 3.75% and 4%, leaving open the possibi...