BlockBeats News, July 10th, Federal Reserve Chair Kevin Wash formed five workgroups to conduct a comprehensive review of the Federal Reserve's monetary policy implementation framework, covering areas such as balance sheet management, policy tools, and the impact of artificial intelligence. The Federal Reserve stated that each workgroup will operate independently, conduct research based on facts, and submit rigorous analysis results to the Federal Open Market Committee. The workgroups will assess whether there is room for improvement in policy tools, analytical methods, and policy frameworks. The team members of this review include several renowned economists and former central bank officials.

Notably, Harvard University economist Raj Chetty will participate in leading the data workgroup, technology investor Marc Andreessen will be responsible for the productivity and employment workgroup, and former Chair of the White House Council of Economic Advisers Greg Mankiw will co-lead the inflation workgroup. Wash stated that the U.S. economy has undergone significant changes over the past generation, with the current pace of transformation even faster, and the Federal Reserve needs to ensure that it is in the best position to achieve its dual goals of price stability and employment promotion. (Golden Finance)