WASHINGTON, Oct. 30 -- One of the Federal Reserve's eight scheduled meetings in 2027 is expected to end with no vote on interest rates and no policy statement, Chairman Kevin Warsh announced on Wednesday, shortly after the central bank held its benchmark rate at 3.75% to 4%.

The hold was expected, coming six weeks after the Fed's rate hike to that range. The vote was less tidy. Governor Lisa Cook, whose future is the subject of a White House hearing next week, and Cleveland Fed President Beth Hammack both wanted a quarter-point increase, leaving the Federal Open Market Committee at 10 to 2 and leaving Warsh to defend a pause with six days to go before the midterm elections.

The calendar is the bigger story. The Fed has run eight schedul...