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Xbox CEO Asha Sharma, who laid off 3,200 employees, to lead task force on jobs
2 months ago
- The US Federal Reserve has created five task forces to evaluate and improve its operations.
- Xbox CEO Asha Sharma, who recently announced layoffs of 3,200 employees, will co-lead a task force on employment and productivity.
- The task force will assess the economic impact of new technologies like AI to inform Federal Reserve policy.
- Sharma will be joined by Stanford professor Charles I. Jones and tech investor Marc Andreessen.
- Federal Reserve Chairman Kevin Warsh emphasized the commitment to price stability and maximum employment.
- Sharma's appointment comes amid her increased responsibilities at Xbox, including direct oversight of Mojang and King.
- Updates on the task forces' work will be posted periodically on the Federal Reserve's website.
Federal Reserve announces leadership of its task forces for monetary policy
2 months ago
- Federal Reserve announced leadership and objectives of five task forces to advance monetary policy.
- Task forces cover Communications, Balance Sheet Policy, Data, Productivity and Jobs, and Inflation Frameworks.
- Each task force is co-led by external experts, including economists, business leaders, and former central bankers.
- Goal is to improve policymaking tools and approaches to achieve price stability and maximum employment.
- Task forces will operate independently, follow evidence, and provide feedback to the Federal Open Market Committee.
Fed's Williams says AI is now his main inflation concern
2 months ago
- Federal Reserve Bank of New York President John Williams identifies AI-driven demand as a key inflation driver that could necessitate rate hikes if sustained.
- Williams emphasizes that monetary policy would need to respond if inflation proves more persistent and higher than baseline forecasts; otherwise, it remains well-positioned.
- A core PCE inflation rate of 0.2% monthly in the second half of 2024 would signal disinflation toward the Fed's 2% target; higher rates would indicate persistent inflation.
- Growing support for rate hikes among Fed officials, with nine policymakers projecting at least one quarter-point hike in 2026 and some considering a June increase.
- Fed minutes reveal discussions on responding to various inflation scenarios, capturing a 'collective reaction function' for economic conditions.
- Chairman Kevin Warsh initiates task forces to review Fed communications, balance sheet, inflation models, and study productivity and data sources, with a six-month timeline for suggested changes.
- Williams views the task forces as a 'unique and timely' opportunity to address key areas, noting an aggressive timeline for report delivery.

federal reserve

Xbox CEO Asha Sharma, who laid off 3,200 employees, to lead task force on jobs

Federal Reserve announces leadership of its task forces for monetary policy

Fed's Williams says AI is now his main inflation concern