Warsh names Andreessen, McMillon to lead Fed task forces
The selection of that panel carries particular urgency. The Federal Reserve’s first monetary policy report to Congress issued under Warsh — released July 11, ahead of his scheduled testimony before the House and Senate next week — stated that US inflation “stepped up further this spring,” with the central bank’s preferred Personal Consumption Expenditures (PCE) Price Index running approximately double the Fed’s 2% target as of May 2026.
The report attributed the pressure to tariff effects, energy costs tied to the conflict in the Middle East, and the accelerating buildout of AI infrastructure.
Former Bank of England Governor Mervyn King, Arminio Fraga, former president of the Central Bank of Brazil, and Peter R. Fisher of the University of Washington’s Foster School of Business lead the communications panel.
The balance sheet group is led by Harvard economist Karen Dynan, former Reserve Bank of India Governor Raghuram Rajan, and former Federal Reserve Governor Jeremy Stein.
According to the Fed’s press release, the panels “will operate independently, with a mandate to follow the evidence, provide candid feedback, and produce rigorous findings for the Federal Open Market Committee (FOMC).”
