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Fed names leadership and objectives for task forces to guide monetary policy

The Fed said the five task forces will be co-led by external advisers and will independently review ways to improve policymakers' tools and approaches for the Federal Open Market Committee.

Reported · Written up by our desk · Central Banks

The Federal Reserve announced leadership and objectives for a set of task forces meant to advance the conduct of monetary policy, framing the effort around the Fed's commitment to price stability and maximum employment.

Chairman Kevin Warsh said the U.S. economy has changed significantly and that each task force will assess whether policymakers' means and methods, analytical tools, and policy approaches can be improved.

According to the Fed, the five task forces will each be co-led by external advisers, supported by Federal Reserve staff, and will operate independently to follow evidence, provide candid feedback, and deliver rigorous findings for the Federal Open Market Committee.

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