Federal Reserve Chairman Kevin Warsh entered his role leading the central bank vowing to reform it. After being confirmed by the Senate and taking office on May 22, he’s created five task forces. Here is a look at the outside experts who will advise him.During Warsh’s confirmation hearing and since then, he has vowed to refocus the Fed on its remit of price stability and maximum employment. Warsh said the Fed has strayed from its mandate in recent years and hopes task forces will help him bring about change.
The first task force will focus on Fed communications, the second on the Fed’s balance sheet, the third on the use and reliance on existing data sources, a fourth on productivity and jobs, and the final task force will examine the Fed’s inflation frameworks.Outside members of the task forces range from academics to CEOs, and Warsh said that they will be supported by subject-matter specialists on the Fed’s staff.US Federal Reserve Chair Kevin Warsh (Washington Examiner/Getty Images)
“They’ll have a straightforward charge — start with first principles, ask hard questions, examine current practice, consider alternatives, and ultimately propose next steps for policymaker consideration,” Warsh said in announcing the task forces.Task force on inflation frameworks
