Kevin Warsh launches 5 Fed task forces to modernize operations
Fed Chair Kevin Warsh announced five new task forces last month to help modernize how the central bank works.
These teams, each led by a mix of top economists and business leaders, will dig into big topics like AI, inflation, and the Fed's massive $6.7 trillion balance sheet.
Warsh says the goal is to make sure the Fed's rules actually fit today's fast-changing economy.
Prominent leaders named to Fed teams
Some familiar names are stepping in: Marc Andreessen (the tech investor) will co-lead the team exploring how AI could boost productivity, alongside Microsoft executive Asha Sharma and Stanford economist Charles Jones.
Another group, led by Harvard's Raj Chetty, former Walmart CEO Doug McMillon, and Chicago economist Kevin Murphy, will focus on improving how the Fed uses data.
Other teams are set to review how the Fed handles inflation, communicates with the public, and manages its giant balance sheet.