"The Federal Reserve's commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor," said Chairman Kevin Warsh. economy has changed significantly over the last generation, and never more so than right now. Each task force will carefully consider whether policymakers' means and methods, analytical tools and policy approaches can be improved upon. I am honored that the best minds from a range of disciplines have agreed to work with us to sharpen our performance as an institution. The goal is straightforward: to ensure the Fed is best positioned to achieve our objectives in this consequential time." The five task forces will examine areas central to the broad conduct of monetary policy.

They will be co-led by external advisers—accomplished economists, business leaders, and former central bank practitioners—with deep expertise in their fields. Supported by Federal Reserve staff, they will operate independently, with a mandate to follow the evidence, provide candid feedback, and produce rigorous findings for the Federal Open Market Committee. Communications: Review how the Federal Reserve conveys policy deliberations and decisions amid uncertainty. Fisher, professor of practice, Foster School of Business, University of Washington Arminio Fraga, founder and chairman, Gávea Investimentos; former president, Central Bank of Brazil Mervyn King, former governor, Bank of England Peter R. Fisher, professor of practice, Foster School of Business, University of Washington Arminio Fraga, founder and chairman, Gávea Investimentos; former president, Central Bank of…