Microsoft Xbox CEO Asha Sharma appointed to US Federal Reserve task force on ...

Microsoft Xbox CEO Asha Sharma has been appointed to a new task force created by the US Federal Reserve to study how AI and other emerging technologies could affect jobs, productivity and the US economy.

The appointment was announced as part of a broader effort by the Federal Reserve to review and improve its operations. As per the official press release, Sharma will help in assessing the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve's policy judgments. According to the Federal Reserve, Sharma will serve alongside Stanford University economics professor Charles I.

Jones, who is currently on leave at Anthropic, and technology investor Marc Andreessen.Sharma's appointment comes just days after Microsoft announced a restructuring of its Xbox business. The company said it plans to reduce around 3,200 jobs by the end of fiscal year 2027 as part of the reorganisation. According to Microsoft, Sharma will also oversee Mojang and King, two of Xbox's largest gaming businesses, which will now report directly to her.

Task force to study AI's impact on jobs and productivity

The Federal Reserve said it has created five task forces, each led by external advisers from different fields, including economics, technology and business. Federal Reserve Chairman Kevin Warsh said the US economy has changed significantly and the central bank wants to evaluate whether its tools and policy approaches need to evolve."The Federal Reserve's commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor," Warsh said. "Each task force will carefully consider whether policymakers' means and methods, analytical tools, and policy approaches can be improved upon," he added.

What Federal Reserve said in the official release

The Federal Reserve on Thursday announced the leadership and objectives of its task forces to advance the conduct of monetary policy."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. "The U.S. 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.The leaders of the five task forces are:Communications: Review how the Federal Reserve conveys policy deliberations and decisions amid uncertainty.Peter R. Fisher, professor of practice, Foster School of Business, University of WashingtonArminio Fraga, founder and chairman, Gávea Investimentos; former president, Central Bank of BrazilMervyn King, former governor, Bank of EnglandBalance Sheet Policy: Examine the costs, benefits, and institutional implications of the Federal Reserve's current balance sheet regime.Karen Dynan, professor of economics, Harvard UniversityRaghuram Rajan, professor of finance, University of Chicago Booth School of Business; former governor, Reserve Bank of IndiaJeremy Stein, professor of economics, Harvard University; former governor, Federal Reserve BoardData: Improve the quality and timeliness of real economic signals that inform the Federal Reserve's policy judgments.Raj Chetty, professor of economics, Harvard UniversityDoug McMillon, former president and CEO, Walmart Inc.Kevin Murphy, professor of economics, University of ChicagoProductivity and Jobs: Assess the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve's policy judgments.Marc Andreessen, cofounder and general partner, Andreessen HorowitzCharles I. Jones, professor of economics, Stanford University, currently on leave at AnthropicAsha Sharma, executive vice president and XBOX CEO, Microsoft Corp.Inflation Frameworks: Revisit how the Federal Reserve understands and responds to the drivers of inflation.Greg Mankiw, professor of economics, Harvard University; former chairman, Council of Economic AdvisersThomas Sargent, professor of economics, New York University; Nobel laureateWilliam White, senior fellow, C.D. Howe Institute; former economic adviser, Bank for International Settlements