Xbox CEO Asha Sharma has been appointed as an advisor to one of the U.S. Federal Reserve's new task forces, focusing on Productivity and Jobs. This group aims to "assess the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve's policy judgments." Sharma is among three advisors selected for this task force, bringing her experience from Microsoft's CoreAI division prior to her role at Xbox.
The Federal Reserve, under Chairman Kevin Warsh, has established five task forces to review and potentially improve its monetary policy approaches. These include Communications, Balance Sheet Policy, Data, Productivity and Jobs, and Inflation Frameworks. The initiative aims to ensure the institution is well-positioned to address the evolving U.S. economy. Chairman Warsh emphasized the Fed's "unwavering" commitment to price stability and maximum employment, noting the significant changes in the economy and the need for rigorous examination of current methods.
Sharma's inclusion is notable as she is reportedly the only active CEO among the task force advisors, which otherwise comprises mainly professors and former business leaders or politicians. Her appointment comes shortly after her own significant initiatives at Xbox, including a major restructuring that resulted in over 3,000 layoffs and the divestment from five development studios: Compulsion Games, Double Fine Productions, Ninja Theory, Undead Labs, and Arkane Studios. These changes followed her appointment as Xbox CEO in February.