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The Federal Reserve appoints a16z co-founder Marc Andreessen to take part in AI policy research
BlockBeats message: On July 10, the U.S. Federal Reserve announced that it has appointed Marc Andreessen, co-founder of venture capital firm a16z (Andreessen Horowitz), to join a special working group to help study the impact of emerging technologies such as artificial intelligence (AI) on productivity and the labor market.
Andreessen will co-serve as a member of the Fed’s productivity and employment working group together with Charles I. Jones, a Stanford University economics professor who is currently on leave from the AI company Anthropic, and Asha Sharma, Microsoft executive vice president and Xbox CEO.
In the press release, the Fed said the working group will assess the impact of general-purpose technologies such as AI on employment and productivity, providing a reference basis for the central bank to formulate monetary policy.
The working group is one of five special working groups established by the newly appointed Fed chair, Waller, and each will focus on studying key issues within the monetary policy framework. In addition to productivity and employment, the other four working groups will focus on areas including policy communications, balance sheet policy, data quality, and the inflation framework.