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Federal Reserve Chairman Warsh will release more details about the special task force in the coming weeks.

MeNews
ME News Message, June 29 (UTC+8), according to the New York Times, shortly after Walsh took over as Chairman of the Federal Reserve, he wrote a letter to the central bank's more than 20,000 employees, elaborating on how he would lead the institution, which he has long argued is in urgent need of a thorough overhaul. In a letter dated June 2, Walsh pledged to promote an "open and sober discussion of the Fed's strategy, policies, and operations." At the core of Walsh's strategy is a series of task forces focused on what he considers the five key areas in the broad implementation of monetary policy. These areas include: the Fed's communication methods; its portfolio of $6.7 trillion in government bonds and mortgage-backed securities (MBS); its prioritized data sources; productivity trends and employment conditions; and the models and metrics used to assess inflation. According to sources, Walsh will release more details about these task forces in the coming weeks. The goal is to complete the work by the end of the year, after which policymakers will consider what reforms to implement and how to implement them. Each task force will be led by several outsiders personally selected by Walsh, with assistance from designated Fed staff members. (Source: Jin10)
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