Federal Reserve appoints Armínio Fraga to communication task force

The Federal Reserve announced on 9 July that it has created five independent task forces to review core elements of U.S. monetary‑policy formulation. The groups will examine communication strategy, balance‑sheet policy, data usage, productivity and employment, and inflation‑policy framework, and are expected to deliver recommendations by the end of the year.

Fed chair Kevin Warsh named the members, mixing academics, former central‑bank governors and senior business executives. Former Brazilian central‑bank president Armínio Fraga will co‑lead the communication task force. Other notable participants include former Reserve Bank of India chief Raghuram Rajan, former Bank of England governor Mervyn King, former Fed director Jeremy Stein, former Walmart CEO Doug McMillon, Andreessen Horowitz co‑founder Marc Andreessen, and Microsoft Xbox chief Asha Sharma.

Warsh said the aim is to ensure the Fed “is in the best possible position to fulfill its mission” by grounding policy decisions in rigorous evidence and improving analytical tools. The task forces will operate independently but coordinate with Fed staff.