Raghuram Rajan joins US Fed review panel alongside two Indian origin experts

Former Reserve Bank of India (RBI) Governor Raghuram Rajan has been appointed to a high-level task force set up by the US Federal Reserve to review its monetary policy framework. He will be joined by Harvard economist Raj Chetty and Microsoft executive Asha Sharma, making them three Indian-origin experts selected for key roles in the review process.

The Federal Reserve has created five independent task forces to assess different aspects of its policymaking, including balance sheet management, inflation strategy, data analytics, communication, and the impact of artificial intelligence on jobs and productivity.

Rajan will contribute to the review of the Fed's balance sheet policy, while Raj Chetty will co-lead the data analytics panel and Asha Sharma will focus on AI and employment trends. The initiative is part of a broader effort by the US central bank to modernise its policy framework in response to changing economic conditions.

The task forces are expected to submit recommendations later this year, with their findings likely to shape future monetary policy decisions. The appointments also highlight the growing global recognition of Indian-origin experts in economics, technology and public policy.