Federal Reserve Establishes Five External Working Groups to Review Monetary Policy Operations

According to Financial World, Federal Reserve Chair Kevin Walsh announced the establishment of five external working groups on July 10 to comprehensively review the central bank's monetary policy operations, covering asset-liability management, policy tools, and artificial intelligence impacts.

The working groups will conduct independent research and submit findings to the Federal Open Market Committee. Participating experts include Harvard economist Raj Chetty leading the data group, tech investor Marc Andreessen heading the productivity and employment group, and former White House Economic Advisers Committee Chair Greg Mankiw co-leading the inflation group.