After Laying Off 3,200 Employees, Xbox CEO Joins the Fed's Jobs Task Force
The appointment follows about 3,200 layoffs at Microsoft’s gaming division and adds private-sector input on how artificial intelligence affects employment.
- On Thursday, Federal Reserve Chairman Kevin Warsh appointed Xbox CEO Asha Sharma as co-lead of the central bank's new 'Productivity and Jobs' task force to assess artificial intelligence's economic impact.
- This appointment follows Monday's announcement by Sharma of 3,200 job cuts across Microsoft's gaming division, part of a broader restructuring pivoting the company toward AI-driven game development.
- Working alongside Sharma on the task force are Stanford University economist Charles I. Jones and venture capitalist Marc Andreessen, tasked with assessing how artificial intelligence influences employment by year-end.
- Federal Reserve Chairman Warsh unveiled five external advisory groups, including those focused on Inflation Frameworks and Balance Sheet management, to position the central bank to achieve its objectives.
- Polymarket traders assign a 78% probability of zero Federal Reserve rate cuts in 2026, though formal findings from the task force on AI-driven deflation could accelerate that timeline.
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Raghuram Rajan, Microsoft's Asha Sharma among Indian-origin appointees to US Fed review panels
US Federal Reserve appointed Indian-origin experts for policy review. Raghuram Rajan and Raj Chetty will join task forces. Asha Sharma will assess technology's impact on jobs and growth. These panels will examine monetary policy tools and data. The review aims to adapt the Fed to economic changes.
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The Morning HustleTone Deaf Achievement Unlocked: After Sacking 3,200 Employees, XBOX Ceo Asha Sharma Joins U.S. Government Task Force For Employment
XBOX / Asha Sharma Well, this might be one of the most tone deaf decisions ever. Just days after she announced XBOX’s big reset, which saw 3,200 employees get handed pink slips, and game studios get sent to limbo, current CEO Asha Sharma has a new role with the government, and get this, she will now lead a task force on employment. According to Eurogamer, Sharma will join the Board of Governors of the Federal Reserve, which is in charge of imple…
What Xbox's layoffs, massive reboot say about the gaming industry
Microsoft plans to reduce Xbox by 3,200 jobs over the next fiscal year, calling it “the most significant restructuring in Xbox history.” While the gaming industry has seen many boom and bust cycles, experts say this moment is different.
Federal Reserve Chairman Kevin Warsh Announces "Concerning" Leadership Task Force
At the same time as Dept of Labor Inspector General Anthony D’Esposito launches an investigation into H1B visa abuses by corporations who engaged in visa fraud, Federal Reserve Chairman Kevin Warsh appoints advisors to the FED on labor policy that includes one of the most egregious violators of H1B fraud, XBox CEO Asha Sharma. It […]
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