Kevin Warsh, the new Chair of the Federal Reserve, signaled that additional appointees to his slate of five independent task forces will be named next week. The announcement caps a rapid organizing phase that began when Warsh unveiled the review groups during his first FOMC press conference on June 17, 2026.

Warsh established five distinct groups, each targeting a pillar of Fed operations. The areas under review include the Fed’s communications strategy, balance sheet management, data sourcing, the inflation framework, and the relationship between productivity, employment, and the broader economy.

The task forces will blend internal Fed staff with outside experts, a structure Warsh has described as designed to ensure independence. Initial recommendations are expected in the fall of 2026, with more comprehensive findings targeted for release by year-end.

Several early appointees have already been named. Economists Daniel Covitz and Eric Engstrom will serve in a rotating capacity, while Paul Winfree and Daniel Heil were selected as advisors earlier in the process.

Warsh has framed this initiative as a methodical, structured review rather than a precursor to immediate policy changes. Warsh, a former Fed governor, has long been a vocal critic of previous Fed policies, taking aim at the central bank’s reliance on forward guidance and questioning its balance sheet strategy.

The balance sheet review alone could be consequential. At roughly $6.7 trillion, the Fed’s holdings remain enormous by historical standards.