Fed Chair Kevin Warsh appoints high‑profile task forces on AI, communication and balance‑sheet reforms

Federal Reserve Chairman Kevin Warsh has announced five independent task forces to review the central bank’s use of data, communication strategy, balance‑sheet policies and the impact of artificial intelligence on the economy. The groups will be led by a slate of prominent economists, former central bankers and business leaders.

Key members include venture‑capitalist Marc Andreessen, former Walmart CEO Doug McMillon, Nobel laureate Thomas Sargent, former Bank of England governor Mervyn King, former IMF chief Raghuram Rajan, Harvard economists Raj Chetty and Kevin Murphy, and Harvard professor Greg Mankiw. The task forces will advise the Fed’s policy committee on modernising analytical tools, reducing forward guidance, and assessing AI‑driven productivity changes.

Warsh said the reforms aim to “ensure the Fed is in the best position to achieve its goals in this decisive moment,” reflecting criticism of the Fed’s performance since the 2008 crisis. The initiatives could affect monetary‑policy expectations and market volatility worldwide.