Fed Chair Warsh to Announce More Details on Task Forces in Coming Weeks

CoinFeed June 29 news, according to the New York Times, shortly after taking over as Fed Chair, Warsh wrote to the central bank's more than 20,000 employees, outlining how he will lead the institution, which he has long argued is in dire need of an overhaul. In a letter dated June 2, Warsh pledged to promote 'an open and sober discussion on the Fed's strategy, policy, and operations.' At the core of Warsh's strategy are 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 approach; its $6.7 trillion portfolio of 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.