Federal Reserve Announces Leadership and Objectives for Five Working Groups

Odaily Odaily reports that the Federal Reserve has announced the leadership and objectives for its working groups. Federal Reserve Chairman Warsh stated that the goal of the working groups is to position the Fed to best achieve its objectives. Each ad hoc working group will operate independently, supported by Federal Reserve staff, and will focus on improving methods and tools. The commitment to price stability and maximum employment is "unwavering." The five working groups are: the Inflation Working Group, the Balance Sheet Working Group, the Employment Working Group, the Data Working Group, and the Communications Working Group. The leaders of the working groups include several former central bank governors, including King, Rajan, Fraga, and former Federal Reserve Governor Stein.