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Federal Reserve Chair Powell appoints working groups in five areas of monetary policy

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Golden Finance reports that on June 18, Federal Reserve Chair Worsh said he would appoint working groups in five areas of monetary policy. The working groups will cover communication, the balance sheet, data sources, productivity and employment, and the inflation framework. The communications working group may reshape the dot plot. The balance sheet working group will review the Federal Reserve’s bond holdings. The productivity and employment working group will investigate the scope of the impact of artificial intelligence and other general-purpose technologies. The data working group will consider new data sources and methodological changes. The focus of the inflation framework assessment should be on the drivers of inflation, and the 2% inflation target will no longer be within the scope of the inflation working group.
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