Trump Appointed Kevin Warsh as the Federal Reserve Chairman. Now He’s Assembling an AI Taskforce
Federal Reserve Chairman Kevin Warsh has assembled a new artificial intelligence task force whose members believe that AI has the potential to reshape the U.S. economy in ways that could benefit government and industry.
The task force, unveiled Thursday, is part of a broader initiative to bring outside expertise into the Federal Reserve’s policymaking process. The AI panel is one of five advisory task forces announced by the central bank. According to the Fed, its mission is to evaluate the economic impact of general-purpose technologies, including AI, and help inform future monetary policy decisions. The group is expected to complete its work by the end of the year.
Warsh personally selected the panel’s three external advisers: venture capitalist Marc Andreessen, Stanford economist Charles I. Jones and Xbox CEO Asha Sharma. While each brings a different professional background, all have publicly expressed confidence that AI will significantly improve productivity and long-term economic growth.
Their views closely mirror those of Warsh, who has repeatedly argued that AI could allow the economy to expand faster without triggering higher inflation, a dynamic that could ultimately justify lower interest rates.
During his first press conference as Fed chairman in June, Warsh described AI as “perhaps as important a change in the economy and business and households that we’ve had in my adult lifetime.” He previously suggested in 2025 that advances in artificial intelligence could create enough productivity gains to permit the Federal Reserve to ease monetary policy while keeping inflation under control.
Andreessen, co-founder of venture capital firm Andreessen Horowitz and one of Silicon Valley’s most influential investors, has emerged as one of AI’s strongest advocates. Having built his fortune during the early internet era, he has frequently compared artificial intelligence to previous technological revolutions.
Speaking on The Joe Rogan Experience podcast in May, Andreessen famously remarked, “We’ve turned sand into thought,” referring to the silicon chips powering modern AI systems. His relationship with Warsh extends beyond professional admiration.
The two have reportedly been friends for decades. After leaving the Federal Reserve in 2011, Warsh spent years managing venture capital investments for billionaire investor Stanley Druckenmiller, further strengthening his ties to Silicon Valley’s technology sector.
Jones, meanwhile, brings academic credibility to the task force. The Stanford economist recently took a leave of absence to join the Anthropic Institute, the research arm of leading AI company Anthropic. His recent scholarship has focused on measuring AI’s potential impact on long-term economic growth.
Some news: As of June 30, I’ll be on leave from Stanford at Anthropic. I’m joining the Anthropic Institute, where I’ll continue my research on AI and our economic future and give seminars and talks as always. 1/3
— Chad Jones (@ChadJonesEcon) June 23, 2026
In one recent paper cited by CNBC, Jones argued that if artificial intelligence eventually automates many of the economy’s current bottlenecks, annual economic growth could exceed 5%, well above the roughly 2% average increase in U.S. per capita output seen over much of modern history.
Although his research explores more conservative scenarios as well, Jones concluded that AI “will likely be the most transformative technology of the modern era.”While she has embraced artificial intelligence as an important technological advancement, she has also demonstrated a pragmatic approach to implementing it.
In a recent Bloomberg interview, Sharma explained that Xbox users are not necessarily seeking AI-powered experiences in gaming. “Our console players aren’t excited about that experience,” she said.
Still, she made clear she remains firmly optimistic about the technology’s broader future.”Do I believe in AI? Absolutely,” Sharma said. Neither Jones nor Sharma responded to requests for comment by CNBC, while Andreessen declined through his investment firm. The Federal Reserve also declined to comment on the appointments.
Despite the strong consensus within the advisory panel, the Federal Open Market Committee, which sets U.S. interest rates, appears more cautious about AI’s near-term economic effects.
Minutes from the Fed’s June policy meeting show that officials discussed whether artificial intelligence will meaningfully improve productivity. Several participants acknowledged AI’s potential but expressed uncertainty about both the timing and the magnitude of those gains, noting that productivity improvements may take longer to materialize than the immediate surge in demand driven by AI adoption.
That demand is already creating new inflation concerns. Speaking Thursday, New York Fed President John Williams pointed to rapidly rising prices for electricity and semiconductors as evidence that the AI boom is placing additional pressure on parts of the economy. Williams said prices for some AI-related components have increased in a “hockey stick” pattern, with certain products doubling or even tripling in price.
