The Federal Reserve said on July 9, 2026 it is creating five external task forces to reshape how the central bank collects and interprets economic information, in one of the clearest signs yet that Chair Kevin Warsh is moving to deliver the “new chapter” he promised after taking office on May 22, 2026. One panel focused on improving data quality and timeliness will be co-led by former Walmart CEO Doug McMillon, Harvard economist Raj Chetty and University of Chicago economist Kevin Murphy. New reporting adds that Warsh is also pressing to use artificial intelligence more deeply across the Fed’s economic analysis and policy process, aiming to rely less on lagging official data and traditional surveys by incorporating real-time information from retailers, banks and other institutions. He previously built AI models called Milton and Tobin to analyze modern economic questions, and after taking office he has expanded internal AI experimentation, with dozens of staff using a test environment for data analysis and forecasting. Warsh is also considering operational changes including reducing the number of annual monetary policy meetings to improve decision-making efficiency. Still, the near-term policy framework is not expected to shift fundamentally: analysts say AI may strengthen the Fed’s long-run decision-making, but with inflation pressures still present and the 2% target not yet reached, interest-rate policy is expected to remain the central bank’s main stabilization tool. Markets have shown mixed reactions to the reform agenda, and U.S. stock and bond markets swung after Warsh’s July 29 press conference as some investors questioned his stance on inflation.