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Fed taps former Walmart CEO for task force on real-time data

The Federal Reserve named the former Walmart CEO to a task force focused on gathering more contemporaneous read-throughs on spending, inflation, and growth.

Reported · Written up by our desk · Central Banks

The Federal Reserve has appointed a former Walmart CEO to a task force aimed at improving how it captures real-time economic information, including how consumers are spending, according to MarketWatch.

The initiative is intended to help the central bank better gauge inflation and overall growth using more current data rather than relying solely on slower moving indicators, MarketWatch said.

The Fed’s effort centers on developing contemporaneous measures related to spending patterns, inflation trends, and economic activity, with the task force serving as a vehicle for that work, MarketWatch reported.

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