Xbox CEO Asha Sharma has been named as an advisor to the US Federal Reserve for Productivity and Jobs.<\/p>\n
The Federal Reserve is the central banking system of the United States. On Thursday, it announced the leadership and objectives of its five task forces established \u201cto advance the conduct of monetary policy\u201d.<\/p>\n
Notably, Sharma was named one of three advisors on the Productivity and Jobs task force, which the Federal Reserve says will be assessing, among other things, the impact of AI.<\/p>\n
According to a news release, the task force will look at \u201cthe economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve\u2019s policy judgments.\u201d<\/p>\n
Supported by Federal Reserve staff, the task forces will operate independently, with \u201ca mandate to follow the evidence, provide candid feedback, and produce rigorous findings for the Federal Open Market Committee\u201d.<\/p>\n
It\u2019s unclear how the appointments were made. Sharma is the only active CEO named on the five task forces. However, the former CEO of Walmart, Doug McMillon, will advise on Data.<\/p>\n
Fed appointment coincides with major job cuts at Xbox<\/a> Sharma\u2019s appointment comes the same week she has enacted sweeping layoffs across the Xbox business<\/a>, initially impacting 1,600 jobs and stretching to 3,200 by the end of Microsoft<\/a>\u2019s business year.<\/p>\n State WARN notices began to reveal details of the cuts this week, including hundreds of job losses at The Elder Scrolls Online developer<\/a> ZeniMax Online and around 100 cuts at Doom maker Id Software<\/a>.<\/p>\n<\/p>\n