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Part of Warsh's reform measures... includes 'Trump supporter' investors and AI industry figures
The US Federal Reserve (Fed) announced on the 9th (local time) that it has formed five task forces (TFs) and appointed more than 10 external members to review its overall operating methods.
This TF is part of the Fed's reform measures announced by newly appointed Fed Chairman Kevin Warsh at his first press conference on the 17th of last month.
Chairman Warsh previously presented reducing the Fed's influence in financial markets, limiting forward guidance on future monetary policy, and re-examining how economic statistics are used as key reform tasks.
The TF is composed of five divisions corresponding to the Fed's core responsibilities and operational areas: ▲ Fed Communications ▲ Balance Sheet Policy ▲ Economic Data ▲ Productivity and Employment ▲ Inflation, with three external experts serving as co-leaders for each division.
The committee includes prominent figures from academia and industry, such as Harvard University Professor Greg Mankiw, who served as the chief economic advisor in the George W. Bush administration, Nobel laureate Professor Thomas Sargent, and former Walmart CEO Doug McMillon.
In particular, the Productivity and Employment TF has recruited figures from the AI and information and communication (IT) industries, including Mark Andreessen, a famous venture investor who has openly supported the second Donald Trump administration, Stanford University Professor Chad Jones, who has collaborated with AI company Anthropic, and executives from Microsoft (MS) Xbox division.
Chairman Warsh stated in a statement, "The goal is clear. It is to ensure the Fed is optimally positioned to achieve its objectives at a critical time."
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