The Federal Reserve just launched its most ambitious internal review in years. Under newly confirmed Chair Kevin Warsh, the central bank announced five external task forces designed to scrutinize and potentially reshape how it conducts monetary policy.
The initiative was unveiled during Warsh’s first Federal Open Market Committee meeting on June 17, 2026.
What the task forces will actually do
The five task forces will examine core elements of the Fed’s operations, from how it communicates with markets to its inflation framework, employment statistics methodology, and the ever-controversial balance sheet.
That balance sheet currently sits at roughly $6.7 trillion. Critics have long argued that a balance sheet this size distorts asset prices across every market.
