When Mike Allen and I are curious about the "real economy ," we talk to sources at big-box stores for a read on real-time sales trends, or friends at super-regional banks to gauge the mood and money movement. - To us, that's the real world and real data, imperfect but less imperfect than dated Bureau of Labor Statistics surveys built for a different time and economy. Why it matters: Fed Chair Kevin Warsh will get scrutinized like hell for rate changes, his communication style, his vow of a "new chapter" at the Fed, and his relationship with President Trump. - We think the most interesting thing to watch long-term is the seemingly boring data task force he appointed last month to improve the "quality and timeliness of real economic…
State of the Union: The task force leaders include experts and business leaders from across the political spectrum. The post Marc Andreessen Among Appointees to New Federal Reserve Task Forces appeared first on The American Conservative .
The Federal Reserve announced Thursday the leaders of its five new monetary policy taskforces, drawing from academics, businesspeople, and former central bankers. Notable leaders of the task forces include Marc Andreessen, the AI investor and cofounder of investment firm Andreessen-Horowitz, and Charles Jones of Stanford University, who recently joined a research company founded by the AI firm Anthropic––both of whom will serve as leaders on the productivity and jobs task force. Other business leaders named in the announcement include Doug McMillon, former CEO of Walmart, on the data task force and Asha Sharma, the CEO of video game company XBOX, who will serve alongside Jones and Andreessen on the productivity and jobs task…Open
Federal Reserve chairman Kevin Warsh has created five task forces to rethink the central bank's policymaking process. They are likely to bring outside-the-box ideas combined with intellectual chops to an often insular institution. The big picture: The task forces consist of economists and business leaders who bring serious credibility to the table but also are not part of the "Fed Borg " — that is, not among the usual lineup of people who have recently worked at the central bank. - It is particularly telling that the task forces are lean, with three members assigned to each (with support from Fed staff). - As anyone familiar with organizational dynamics knows, a three-person committee is more likely to arrive at crisp, potentially…