Raghuram Rajan will co-lead the Fed's Balance Sheet Policy panel.
Raj Chetty and Asha Sharma will head liquidity and productivity task forces.
The panels will recommend reforms to the US Federal Reserve's policy framework.
Former RBI Governor Raghuram Rajan, Harvard economist Raj Chetty and Microsoft XBOX chief executive Asha Sharma are the three Indians named by US Federal Reserve Chairman Kevin Warsh to lead the central bank's monetary policy task forces.
Announced on Friday, all three, along with two other members are designated to lead the panels to examine the US Fed's approach towards transformational changes.
"The goal is straightforward: to ensure the Fed is best positioned to achieve our objectives in this consequential time," Warsh said while announcing the leadership lineup, which draws on academics, former central bankers and corporate executives.
1 June 2026
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Rajan, who also served as chief economic adviser to the Government of India, has been named to co-lead the Balance Sheet Policy taskforce, which will "examine the costs, benefits, and institutional implications" of the Fed's balance sheet regime.
He currently serves as Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business and is widely known for warning global central bankers at a Fed retreat in Jackson Hole, Wyoming about banks' growing subprime loan books a warning that preceded the 2008 global financial crisis.
Chetty, the William A. Ackman Professor of Public Economics at Harvard University, has been named to the panel on Liquidity Dependence, which will examine the costs, benefits and implications of the Fed's current balance sheet regime.
He serves as director of Opportunity Insights at Harvard, which researches pathways for children from disadvantaged backgrounds. His co-chairs include Harvard economics professor Jeremy Stein, former Walmart president and chief executive Doug McMillon, and University of Chicago economics professor Kevin Murphy.
Sharma, the Indian-origin chief executive of Microsoft's gaming unit XBOX, has been selected to lead a task force on productivity and employment.
The appointment comes days after one of the largest rounds of layoffs at the gaming unit in recent times.
Born in India and raised in the US, Sharma has previously worked at Meta, ecommerce platform Coupang, grocery delivery company Instacart and home improvement retailer The Home Depot.
Her panel co-chairs include Marc Andreessen, co-founder of venture firm Andreessen Horowitz, and Stanford University professor Charles Jones.
