Fed announces leadership and objective for monetary policy task forces; each to be co-led by three experts external to the Fed and be supported by Fed staff

Newsquawk Staff · 9 Jul 2026, 19:20 UTC

The leaders of the five task forces are

Communications: Review how the Federal Reserve conveys policy deliberations and decisions amid uncertainty.
- Peter R. Fisher, professor of practice, Foster School of Business, University of Washington
- Arminio Fraga, founder and chairman, Gávea Investimentos; former president, Central Bank of Brazil
- Mervyn King, former governor, Bank of England
Balance Sheet Policy: Examine the costs, benefits, and institutional implications of the Federal Reserve's current balance sheet regime.
- Karen Dynan, professor of economics, Harvard University
- Raghuram Rajan, professor of finance, University of Chicago Booth School of Business; former governor, Reserve Bank of India
- Jeremy Stein, professor of economics, Harvard University; former governor, Federal Reserve Board
Data: Improve the quality and timeliness of real economic signals that inform the Federal Reserve's policy judgments.
- Raj Chetty, professor of economics, Harvard University
- Doug McMillon, former president and CEO, Walmart Inc.
- Kevin Murphy, professor of economics, University of Chicago
Productivity and Jobs: Assess the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve's policy judgments.
- Marc Andreessen, cofounder and general partner, Andreessen Horowitz
- Charles I. Jones, professor of economics, Stanford University, currently on leave at Anthropic
- Asha Sharma, executive vice president and XBOX CEO, Microsoft Corp.
Inflation Frameworks: Revisit how the Federal Reserve understands and responds to the drivers of inflation.
- Greg Mankiw, professor of economics, Harvard University; former chairman, Council of Economic Advisers
- Thomas Sargent, professor of economics, New York University; Nobel laureate
- William White, senior fellow, C.D. Howe Institute; former economic adviser, Bank for International Settlements

Sources

federalreserve.gov

What our latest note said

EU Market Open, 23 Oct, 06:20 UTC · what it led with

APAC equities were under pressure, mostly following the negative tech-led Wall St. handover; European futures now point to a contained open.
USD modestly firmer vs major peers, EUR awaits Moody's and weekend French activity while the NZD made a marginal recovery.

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Riksbank maintains its rate at 1.75% as expected; assesses that the probability of a rate increase later this year remains; there is considerable uncertainty and developments call for vigilance
EUR/SEK+0.3%
Norges Bank maintains its rate at 4.25% as expected; may still become necessary to raise the policy rate
EUR/NOK+0.6%
Iran and US talks continue, and reports that the deal is close are wrong.
WTI crude+1.5%

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The leaders of the five task forces are

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