{"id":36678,"date":"2026-08-10T15:35:35","date_gmt":"2026-08-10T10:35:35","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=36678"},"modified":"2026-08-10T15:35:35","modified_gmt":"2026-08-10T10:35:35","slug":"the-feds-new-chapter-runs-through-walmarts-ex-ceo","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=36678","title":{"rendered":"The Fed&#039;s new chapter runs through Walmart&#039;s ex-CEO"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/images.axios.com\/yXTKHDnS5P80indnBcZ6ohHZPRo=\/1366x768\/smart\/2025\/04\/11\/184058-1744396858278.jpg\" \/><\/p>\n<p>When Mike Allen and I are curious about the &#8220;<a href=\"https:\/\/www.axios.com\/economy\" target=\"_blank\">real economy<\/a>,&#8221; we talk to sources at big-box stores for a read on real-time sales trends, or friends at super-regional banks to gauge the mood and money movement.  <\/p>\n<ul>\n<li>To us, that&#8217;s the real world and real data, imperfect but less imperfect than dated Bureau of Labor Statistics surveys built for a different time and economy. <\/li>\n<\/ul>\n<p><strong>Why it matters: <\/strong>Fed Chair <a href=\"https:\/\/www.axios.com\/2026\/08\/06\/goldman-sachs-fed-warsh\" target=\"_blank\">Kevin Warsh<\/a> will get scrutinized like hell for rate changes, his communication style, his <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/testimony\/warsh20260714a.htm\" target=\"_blank\">vow<\/a> of a &#8220;new chapter&#8221; at the Fed, and his relationship with President Trump. <\/p>\n<ul>\n<li>We think the most interesting thing to watch long-term is the seemingly boring <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20260709a.htm\" target=\"_blank\">data task force<\/a> he appointed last month to improve the &#8220;quality and timeliness of real economic signals that inform the Federal Reserve&#8217;s policy judgments.&#8221;<\/li>\n<\/ul>\n<hr>\n<ul>\n<li><strong>The members: <\/strong><a href=\"https:\/\/www.economics.harvard.edu\/people\/raj-chetty\" target=\"_blank\">Harvard<\/a> economics professor <a href=\"https:\/\/rajchetty.com\/\" target=\"_blank\">Raj Chetty<\/a>, former Walmart CEO <a href=\"https:\/\/corporate.walmart.com\/about\/leadership\/doug-mcmillon\" target=\"_blank\">Doug McMillon<\/a> and University of Chicago economics professor emeritus <a href=\"https:\/\/economics.uchicago.edu\/directory\/kevin-m-murphy\" target=\"_blank\">Kevin Murphy<\/a>.<\/li>\n<\/ul>\n<p><strong>The big picture: <\/strong>AI should surely help aggregate and better analyze more real-time data feeds to help policymakers make better decisions. If not, AI will be a total flop.  <\/p>\n<ul>\n<li>Imagine a parallel Fed that uses more fine-tuned, real-time data feeds, analyzed without economic worldview bias or personal interest of Fed governors.<\/li>\n<\/ul>\n<p><strong>The bottom line: <\/strong>We&#8217;ve known Warsh for years, and his interest in AI and rethinking data is real and intense. We&#8217;d be surprised if the ultimate manifestation of his &#8220;new chapter&#8221; isn&#8217;t deeply infused with the work of McMillon &amp; Co. <\/p>\n<p>\ud83d\udcc8 <em>If you&#8217;re a CEO or on a CEO&#8217;s team: <a href=\"https:\/\/www.axios.com\/newsletters\/c-suite?utm_medium=native&amp;utm_source=axios_article&amp;utm_campaign=csuite\" target=\"_self\">Ask to join<\/a> Jim&#8217;s new weekly Axios C-Suite newsletter.<\/em><\/p>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>When Mike Allen and I are curious about the &#8220;real economy,&#8221; we talk to sources at big-box stores for a read on real-time sales trends, or friends at super-regional banks to gauge the mood and money movement. To us, that&#8217;s the real world and real data, imperfect but less imperfect than dated Bureau of Labor&#8230;<\/p>\n","protected":false},"author":1,"featured_media":36679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.axios.com\/yXTKHDnS5P80indnBcZ6ohHZPRo=\/1366x768\/smart\/2025\/04\/11\/184058-1744396858278.jpg","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-36678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-political-news"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/36678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36678"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/36678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/36679"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}