The Federal Reserve announces the leadership and objectives of the working group

On 10 July, the Federal Reserve announced the leadership and objectives of the working group. The Chairman of the Fed, Walsh, stated that the objective of the working group was to put the Fed in the best position to achieve its objectives, that the ad hoc working groups would operate independently and be supported by the Fed's staff; that the working group would work to improve methods and tools; and that the commitment to price stability and job maximization would be “unswerving”. The five working groups are the Inflation Working Group, the Balance Sheet Working Group, the Employment Working Group, the Data Working Group and the Communications Working Group. The Task Force was headed by a number of former global central bank governors, including Kim, Rajan, Fraga and former Federal Reserve Board member Stan。