The US Federal Reserve has set up five new task forces to review and modernise how the American central bank runs its operations. In an official statement, the newly appointed Federal Reserve Chairman, Kevin Warsh, named a list of external experts chosen to lead these panels. The line-up includes university professors, major tech investors and prominent corporate bosses.
According to a press release, among the appointments is Xbox Chief Executive Asha Sharma, who has been selected to run a task force dedicated to productivity and employment.The decision has raised eyebrows, coming just days after Ms Sharma announced a sweeping overhaul at the gaming giant.
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The restructure will see roughly 3,200 employees lose their jobs by the end of the 2027 financial year. Remaining game developers are reportedly worried that the cuts will permanently damage some of Xbox's most famous and valuable brands.
Ms Sharma will be one of three leaders overseeing the Productivity and Jobs panel. The task force has been asked to study how emerging technologies, particularly artificial intelligence (AI), affect the broader economy, helping to shape future US interest rate and monetary policies.
She will lead the group alongside Charles I Jones, a Stanford economics professor currently on sabbatical at the AI safety firm Anthropic, and Marc Andreessen, a high-profile Silicon Valley venture capitalist known for his substantial financial backing of AI companies.
"The Federal Reserve's commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor," said Chairman Kevin Warsh. "The US economy has changed significantly over the last generation, and never more so than right now. Each task force will carefully consider whether policymakers' means and methods, analytical tools and policy approaches can be improved upon. I am honoured that the best minds from a range of disciplines have agreed to work with us to sharpen our performance as an institution. The goal is straightforward: to ensure the Fed is best positioned to achieve our objectives in this consequential time."
