Punjab Newsline | Washington
US Federal Reserve has appointed three prominent Indian-origin experts to key task forces as part of its efforts to combat persistent inflation and revamp its economic policy framework.
Federal Reserve Chairman Kevin Warsh announced five new special task forces, bringing together leading global economists, business executives and policymakers. Among those selected are former Reserve Bank of India (RBI) Governor Raghuram Rajan, Indian-American economist Raj Chetty, and Microsoft executive Asha Sharma.
While the Fed did not specify Rajan's exact role, Warsh said the task forces are intended to introduce fresh thinking at the central bank after more than five years of inflation remaining above the Fed's target.
Harvard University professor Raj Chetty will co-chair the Data Task Force alongside University of Chicago economist Kevin Murphy. The panel will focus on improving the quality and timeliness of economic data used in Federal Reserve policymaking.
Indian-origin executive Asha Sharma, recently appointed CEO of Microsoft's Gaming and Xbox division, will serve on the Productivity and Employment Task Force with venture capitalist Marc Andreessen and Stanford economist Charles I. Jones. The committee will work on strategies to boost productivity and employment.
The newly formed task forces also include several globally renowned figures, including former Bank of England Governor Mervyn King, former Walmart CEO Doug McMillon, and Nobel Prize-winning economist Thomas Sargent, highlighting the Federal Reserve's push for broad-based expertise in shaping future US economic policy.
