Xbox CEO Asha Sharma Becomes Only Active CEO Appointed as US Federal Reserve Adviser Amid Xbox Layoffs

Xbox CEO Asha Sharma has been appointed as one of three official advisers to the US Federal Reserve’s Productivity and Jobs task force, making her the only currently active CEO across any of The Fed’s five new task forces. Her appointment comes the same week Xbox announced layoffs of up to 3,200 employees.

On Thursday, the United States Federal Reserve announced Asha Sharma, who was named Xbox CEO earlier in 2026, as a core adviser on its Productivity and Jobs task force. Sharma stands out as the sole active chief executive officer serving in this advisory capacity, while other groups include former executives such as former Walmart CEO Doug McMillon, who will serve on the Data task force. Sharma’s selection places a leading figure from the gaming and technology sector at the heart of discussions on monetary policy and labour trends in the United States.

Sharma’s Role at the Federal Reserve

The Federal Reserve, tasked with overseeing US monetary policy and supporting price stability and maximum employment, launched five new task forces “to advance the conduct of monetary policy.” On Thursday, July 9, 2026, it formally released the leadership and remit of each task force. According to the official announcement, Sharma is one of three advisers on the Productivity and Jobs task force, which “will be assessing, among other things, the impact of AI.” The Fed’s news release specified the responsibility of this group: “to look at the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve’s policy judgments.”

Key facts about the Federal Reserve task forces:

• Five task forces have been established by the US Federal Reserve “to advance the conduct of monetary policy.”
• Each task force operates independently and is supported by Federal Reserve staff.
• The Productivity and Jobs task force will “carefully consider whether policymakers’ means and methods, analytical tools and policy approaches can be improved upon.”
• Members are expected “to follow the evidence, provide candid feedback, and produce rigorous findings for the Federal Open Market Committee.”

Asha Sharma’s unique standing as the only sitting CEO named on any of the five Federal Reserve task forces demonstrates both her perceived insight into modern workforce dynamics and the increasing relevance of the gaming and tech sector in monetary policy debates.

Sharma’s Background and Recent Xbox Layoffs

Before becoming Xbox CEO, Asha Sharma was president of Microsoft’s CoreAI product. At Facebook (now Meta), she served as VP Product & Engineering, where she led both Messenger and Instagram Direct products. Sharma’s record in technology, AI, and consumer platforms underpins her direct involvement with the Federal Reserve’s new advisory focus on AI and productivity.

Her Federal Reserve appointment coincides with a period of upheaval at Xbox. During Sharma’s first year as CEO, Xbox has already initiated significant layoffs—starting with 1,600 jobs in July 2026, with the total expected to reach 3,200 by the close of Microsoft’s financial year. According to public state WARN notices, hundreds of jobs have been cut at ZeniMax Online Studios (developer of The Elder Scrolls Online), and around 100 roles have been eliminated at Id Software, known for the DOOM franchise.

Sharma’s leadership during these corporate restructurings is expected to inform her role on the Productivity and Jobs task force, providing The Fed with direct insight into the impact of large-scale technological and workforce shifts in a multinational business environment.

Federal Reserve’s Mission and Sharma’s Appointment

Federal Reserve Chairman Kevin Warsh addressed these task forces’ formation and their broader purpose, stating:

“The Federal Reserve’s commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor.” Warsh continued, “The U.S. economy has changed significantly over the last generation, and never more so than right now. Each task force will carefully consider whether policymakers’ means and methods, analytical tools and policy approaches can be improved upon. I am honored that the best minds from a range of disciplines have agreed to work with us to sharpen our performance as an institution. The goal is straightforward: to ensure the Fed is best positioned to achieve our objectives in this consequential time.”

The selection criteria for advisers were not made public, but Sharma’s appointment—distinct as the only active CEO—adds diversity of real-time industry experience to the Fed’s advisory group. Her recent direct involvement in AI development and management of large workforce transitions brings authoritative, relevant insight to The Fed as it analyses “the economic impact of new general-purpose technologies, including artificial intelligence.”

Appointment Timeline and Key Facts

• Date of Federal Reserve appointment announcement: July 9, 2026
• Role: Adviser to the Productivity and Jobs task force of the US Federal Reserve
• Other advisers of note: Doug McMillon (former Walmart CEO) on Data task force
• Xbox layoffs under Sharma (2026): 1,600 initial jobs cut, expanding to 3,200 by fiscal year end
• Studios affected: ZeniMax Online (hundreds of jobs), Id Software (approx. 100 jobs)
• Sharma’s previous positions: President of Microsoft CoreAI product, VP Product & Engineering at Facebook (Messenger/Instagram Direct)

With Sharma’s dual influence at the intersection of gaming, AI, and US economic planning, her input is positioned to shape not just Xbox’s strategic direction, but also Federal Reserve policy in an era of accelerating technological change.