Three Indian-Origin Experts Named to Lead US Federal Reserve Monetary Policy Review Task Forces

 Three Indian-Origin Experts Named to Lead US Federal Reserve Monetary Policy Review Task Forces

• Appointed by: US Federal Reserve under Chair Kevin Warsh - part of 5 task forces reviewing Fed's monetary policy framework [review every 5 years].
• Appointees:
  • Raghuram Rajan - Prof Finance, Univ of Chicago Booth, Ex-Governor RBI - Balance Sheet Policy task force - review costs, benefits, institutional implications of Fed balance sheet.
  • Raj Chetty - Prof Economics, Harvard, Director Opportunity Insights - Data task force - improve quality and timeliness of economic data for monetary policy.
  • Asha Sharma - EVP & CEO Microsoft Xbox Division - Productivity and Jobs task force - assess impact of AI and emerging tech on productivity, employment, wages.
• Other Task Forces: Communications and Inflation Frameworks.
• About US Fed: Established 1913, central banking system of USA.
• UPSC Relevance: GS3 - Economy, Monetary Policy, Indian Diaspora.