the Federal Reserve The five leaders announced Work teams Which will examine the Fed’s methods, analytical tools and policy approaches and provide “candid feedback” to the bank Federal Open Market Committee.
The Fed said on Thursday (July 9) that each task force will be co-led by three outside advisors, will operate independently and will be supported by Fed staff. press release.
“The goal is clear and straightforward: to ensure that the Fed is best positioned to achieve our goals in this time of uncertainty,” the Fed Chairman said. Kevin Warsh he said in the release.
He will lead the Communications Task Force, which will review how the Fed communicates policy deliberations and decisions peter r. FisherProfessor of Practice, Foster School of Business, University of Washington; Arminio Fragafounder and chairman of Gávea Investimentos, and former president of the Brazilian Central Bank; and Mervyn Kingformer Governor of the Bank of England.
He will lead the Balance Sheet Policy Task Force, which will study the Fed’s current balance sheet system Karen DunnProfessor of economics at Harvard University. Raghuram RajanProfessor of Finance at the University of Chicago Booth School of Business, and former Governor of the Reserve Bank of India; and Jeremy Steinprofessor of economics at Harvard University, and former governor of the Federal Reserve.
The data task force will be led, which will work to improve the real economic signals that guide the Fed’s policy judgments Raj ShettyProfessor of economics at Harvard University. Doug McMillonformer president and CEO of Walmart Inc.; and Kevin Murphyprofessor of economics at the University of Chicago.
The Productivity and Jobs Task Force, which will assess the economic impact of artificial intelligence and other new general-purpose technologies, will be led by: Marc Andreessenco-founder and general partner, Andreessen Horowitz; Charles I. Jonesprofessor of economics at Stanford University, is currently on leave at Anthropic University; and Asha SharmaExecutive Vice President and CEO of XBOX, Microsoft.
The Inflation Frameworks Task Force, which will examine how the Fed understands and responds to the drivers of inflation, will be led by: Greg Mankiwprofessor of economics at Harvard University, and former chairman of the Council of Economic Advisers; Thomas Sargentprofessor of economics at New York University, and Nobel Prize winner; and William WhiteSenior Fellow at the CD Howe Institute, and former Economic Advisor to the Bank for International Settlements.
Warsh announced through June 17 press conference He intends to appoint five working groups to deal with topics that are “timely, important, and, in my opinion, worthy of a new look.”
