- 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.