Asha Sharma to be Co-leader of the US Federal Reserve's Productivity and Jobs Task Force

The Federal Reserve of the United States has named Asha Sharma, the Xbox CEO, to play a pivotal role in leading its Productivity and Jobs task force. According to a press release, the Federal Reserve has initiated five distinct task forces aimed at exploring key aspects crucial to the expansive management of monetary policy.

These task forces will be directed by external leaders comprising economists, industry figures, and alumni of central bank administration. Asha Sharma will share leadership of the Productivity and Jobs task force with Marc Andreessen, who is both the co-founder and general partner at Andreessen Horowitz, and Charles I. Jones, an economics professor from Stanford University, currently affiliated with the AI company Anthropic.

The aim of this task force is to evaluate the effects of emerging general-purpose technologies, like artificial intelligence, on the economy to guide the Federal Reserve's policy decisions.

Sharma's new position coincides with the announcement of significant workforce reductions at Xbox, where 3,200 jobs are slated for elimination by 2027. The studios impacted by this reduction include ZeniMax Online Studios, Id Software, Bethesda Game Studios, and Obsidian.

"These changes are aimed at securing a more expansive future for Xbox," Sharma stated, indicating a future characterized by increased scale and creativity on a global level. "This year, our investments in Xbox will match historical levels, but with enhanced focus, discipline, and clarity, to position Xbox as the global hub for gaming and creation."

Earlier this year, Sharma took over from Phil Spencer as Xbox CEO after joining Microsoft in 2024 as the president of CoreAI.

Since assuming leadership, she has introduced strategic leadership shifts, halted Gaming Copilot development, reduced Game Pass pricing, and transitioned Microsoft Gaming back to the Xbox name.