 Creative Investment Research Raises Questions About Federal Reserve Task Forces, Announces Review Under Federal Advisory Committee ActWASHINGTON - July 18, 2026 - PRLog -- Creative Investment Research notes concern regarding the composition of the five Federal Reserve advisory task forces recently established by Federal Reserve Chair Kevin Warsh and announced that the firm is evaluating whether the task forces comply with the requirements of the Federal Advisory Committee Act (FACA).
The five task forces will advise the Fed on communications, balance sheet policy, economic data, productivity and jobs, and inflation frameworks. These groups are expected to influence the future direction of monetary policy in the United States. Creative Investment Research's preliminary review indicates that none of the announced external task force leaders are Black. "The Federal Reserve has every right to seek outside advice from leading experts," said William Michael Cunningham, CEO of Creative Investment Research. "Our concern is whether the advisory process adequately reflects the breadth of expertise necessary to understand today's diverse American economy." The firm emphasized that its concerns are not directed at any individual appointed to the task forces. Rather, they focus on whether the advisory process incorporates sufficient diversity of economic perspectives to inform policymaking that affects every American household, worker, entrepreneur, and financial institution. The firm is examining whether the task forces may be subject to the Federal Advisory Committee Act (FACA), which governs many federal advisory committees and includes provisions addressing committee balance, transparency, public access, and recordkeeping. The firm has not reached any legal conclusions. "As part of our review, we are evaluating whether these task forces fall within the scope of FACA and, if so, whether their structure satisfies the Act's requirement that advisory committees be fairly balanced in terms of the points of view represented and the functions they are intended to perform," Cunningham said. Creative Investment Research has previously filed public comments, amicus briefs and policy analyses addressing Federal Reserve governance, transparency, and financial inclusion. The firm noted that Black-owned businesses, minority depository institutions, and historically underserved communities often experience inflation, employment, access to credit, and financial conditions differently than national averages suggest. Those differences, the firm argues, can provide valuable empirical insights into how monetary policy affects the broader economy. Creative Investment Research stated that it is reviewing the legal framework governing the task forces and will determine whether additional action—including requests for information, public comments, or, if appropriate, a request for judicial review—is warranted after completing its analysis. "Our objective is straightforward," For more, see: https://www.impactinvesting.online/ End
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