Asha Sharma, the chief executive officer of Xbox, has been appointed by the U.S. Federal Reserve to lead one of five new task forces focused on improving the institution's operations. Sharma will co-lead the task force on employment and productivity, which is charged with assessing the economic impact of new technologies, including artificial intelligence, to inform the Fed's policy judgments.
The appointment comes shortly after Sharma announced a major reorganization at Xbox, resulting in the layoff of approximately 3,200 employees by the end of the 2027 fiscal year. Some remaining developers have reportedly expressed concerns that this restructuring could negatively impact valuable company brands.
Sharma will serve on the task force alongside Stanford economics professor Charles I. Jones, who is currently on leave at Anthropic, and prominent tech venture capitalist and AI investor Marc Andreessen. Federal Reserve Chairman Kevin Warsh stated that the task forces represent a commitment to price stability and maximum employment, acknowledging that the U.S. economy has undergone significant changes.
"The Federal Reserve's commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor. The US economy has changed significantly over the last generation, and never more so than right now," Warsh said. "Each task force will carefully consider whether policymakers' means and methods, analytical tools, and policy approaches can be improved upon."
Sharma's responsibilities at Xbox include overseeing operations like Mojang and King, which now report directly to her. The Federal Reserve plans to provide periodic updates on the task forces' progress via its website.