Kevin Warsh names members of his Federal Reserve task forces, including
Federal Reserve Chairman Kevin Warsh on Thursday released names of the experts who will comprise five task forces to examine the institution’s operations — a list that includes several prominent Wall Street names, business leaders and a wide expanse of academicians and former Fed officials.
Warsh first disclosed his intention to create the task forces last month, saying they would tackle communications, data, the Fed’s balance sheet, data, productivity and jobs and the framework for the policymakers view inflation.
Among the prominent names involved are venture capitalist Marc Andreessen, former Bank of England Governor Mervin King, and Greg Mankiw, former chairman of the White House’s Council of Economic Advisers. Doug McMillon, the former CEO of Walmart, leads the names of business executives involved.
“I am honored that the best minds from a range of disciplines have agreed to work with us to sharpen our performance as an institution,” Warsh said. “The goal is straightforward: to ensure the Fed is best positioned to achieve our objectives in this consequential time.”
A Fed news release did not indicate a timeline of when the task forces would complete their work, though Warsh has indicated he expects changes to come this year.
The statement also noted that the panels will “operate independently, with a mandate to follow the evidence, provide candid feedback, and produce rigorous findings” that will be reported back to officials on the Federal Open Market Committee.
Members of the panels represent a swath of interests, spanning ideologies and backgrounds.
Others named to the task forces include Raghuram Rajan, former governor the Reserve Bank of India; former Fed Governor Jeremy stein and William White, a Canadian economist who warned about central bank easy money prior to the 2008 global financial crisis.
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