Federal Reserve Chairman Kevin Warsh has appointed Armínio Fraga to lead one of five new task forces charged with reviewing the central bank’s approach to monetary policy formulation.
The move, reported by multiple wire services, marks the latest step in Warsh’s effort to reshape the institution’s analytical and policy-making processes.
Fraga, who previously served as governor of Brazil’s central bank, joins a group of advisors tasked with examining core aspects of the Fed’s policy framework.
The task forces are designed to evaluate and potentially overhaul how the central bank sets interest rates and communicates its policy stance.
This follows Warsh’s earlier appointments of internal advisors, including Paul Winfree, a contributor to the conservative policy blueprint known as Project 2025.
The restructuring of the Fed’s research and policy teams has drawn attention from markets, which are closely watching for signals on the future direction of U.S. interest rates.