Prominent Economists Join US Federal Reserve Task Force for Monetary Policy Review

The US Federal Reserve has appointed notable economists Raghuram Rajan, Raj Chetty, and Asha Sharma to a task force aimed at reviewing monetary policy. This initiative, led by new chair Kevin Warsh, includes five specialized groups focusing on various aspects of economic policy, such as balance sheet management and data quality. Rajan will assess balance sheet policies, while Chetty and Sharma will work on improving economic data for policy decisions. Their expertise is expected to significantly contribute to the Federal Reserve's strategic direction.

By Narendra Chaudhary Jul 16, 2026, 13:35 IST

Key Appointments to the Federal Reserve Task Force

Former Reserve Bank of India Governor Raghuram Rajan, renowned economist Raj Chetty from Delhi, and Microsoft executive Asha Sharma have been appointed to a significant task force established by the US Federal Reserve. This group will focus on reviewing monetary policy.

Kevin Warsh, the newly appointed chair of the Federal Reserve, announced the formation of five task forces aimed at examining critical areas of monetary policy, including communication strategies, balance sheet policies, data analysis, productivity, employment, and inflation frameworks. According to the Federal Reserve, these committees will operate independently while receiving support from its staff and will provide recommendations to the Federal Open Market Committee (FOMC).

Rajan to Review Balance Sheet Policy

Raghuram Rajan has been selected to join the balance sheet policy task force alongside Harvard economist Karen Dynan and former Federal Reserve Governor Jeremy Stein. This panel will assess the costs, benefits, and institutional impacts of the current balance sheet arrangements of the Federal Reserve.

Chetty and Sharma Join Important Panels

Raj Chetty, an economist from Harvard University, will collaborate with Doug McMillon and Kevin Murphy from the University of Chicago on the data task force. This group aims to enhance the quality and timely availability of economic data used in the Federal Reserve's policy-related decisions. Chetty is recognized for his work utilizing real-time and administrative data to study economic mobility, inequality, and labor markets.

Asha Sharma, the Executive Vice President at Microsoft and CEO of Xbox, has been appointed to the productivity and jobs task force alongside Marc Andreessen and Stanford economist Charles I. Jones. This group will evaluate the economic impact of new general-purpose technologies, including artificial intelligence, to assist in the Federal Reserve's policy decisions.