Warsh Appoints 2 Fed Economists as Advisors After Launching 5 Reform Task Forces
Updated
Updated · CNBC · Jun 26
Warsh Appoints 2 Fed Economists as Advisors After Launching 5 Reform Task Forces
3 articles · Updated · CNBC · Jun 26
Summary
Daniel Covitz and Eric Engstrom were tapped as key advisers to Chairman Kevin Warsh, expanding the team guiding his overhaul of how the Fed assesses the economy and sets monetary policy.
The two are longtime internal economists — Covitz a deputy director in research and statistics, Engstrom an associate director in monetary affairs — signaling Warsh is leaning heavily on in-house expertise.
A Fed official said both will serve on a rotating basis while keeping their existing posts, adding to advisers Paul Winfree and Daniel Heil already brought in by Warsh.
The appointments follow Warsh's launch of 5 task forces on communication, data, inflation, technology and the balance sheet, part of a broader effort to rethink Fed operations.