The Federal Reserve gets a desi think tank
This week’s edition spans finance, fame, theatre and a Queens high school corridor at 7 in the morning. The Federal Reserve has tapped three Indian-origin leaders to help rethink its policies. A Bay Area son of Indian immigrants is now the world’s second-highest earning content creator. And a British Indian theatre company is giving Cinderella a desi twist with bhangra, a talking cow and stepsisters named Lovely and Bubbly.
Let’s go.
THE BIG STORY
The desis helping rethink America’s economy
Former Reserve Bank of India governor Raghuram Rajan will serve on the task force reviewing the Fed’s balance sheet policy alongside Harvard economist Karen Dynan and former Fed governor Jeremy Stein. Their job is to examine whether the central bank’s vast holdings of assets still serve the economy as intended and what risks they may create in the years ahead.
Harvard economist Raj Chetty will co-lead the data task force with former Walmart chief executive Doug McMillon and University of Chicago economist Kevin Murphy. Chetty has built his career on using large datasets to understand social mobility, inequality and labour markets. The panel will explore how the Fed can improve the quality and speed of the economic data that shapes its decisions.
Asha Sharma, Executive Vice President at Microsoft and chief executive of Xbox, will join the productivity and jobs task force alongside venture capitalist Marc Andreessen and Stanford economist Charles Jones. The group will examine how artificial intelligence and other breakthrough technologies could reshape employment, productivity and long-term economic growth.
Why it matters:
These appointments are significant because they reflect something bigger than individual achievement. Indian-origin professionals are no longer simply building successful careers in American business and academia. They are increasingly helping shape the institutions that influence the world’s largest economy.
The three appointees also represent very different paths to influence. Rajan led the Reserve Bank of India. Chetty transformed the study of inequality and opportunity through data-driven research. Sharma has spent her career building products used by millions of people around the world. Together, they illustrate the growing breadth of Indian-origin leadership in the United States.
Driving the news:
Warsh launched the review soon after taking over as Federal Reserve chairman, describing it as an opportunity to ensure the institution is equipped for a rapidly changing economy. The five task forces cover balance sheet policy, data, productivity and jobs, communications, and inflation frameworks. Their recommendations will be submitted to the Federal Open Market Committee and are expected to shape the Fed’s next major policy framework.
For decades, Indian-origin professionals helped build American companies. Now, they are also helping shape the institutions that decide how the American economy works.
NRI WATCH
Mann of the moment
The internet’s biggest storytellers have never been more valuable.
Forbes’ 2026 Top Creators list found that the world’s 50 highest-earning social media stars made more than $1 billion between them over the past year, the first time the creator economy has crossed that milestone. Sitting at number two is Dharminder “Dhar” Mann, the son of Indian immigrants, with estimated earnings of $65 million.
Mann’s story is unusual even by internet standards. He grew up in California, sharing a one-bedroom apartment with three other families before building Dhar Mann Studios into a production company of around 200 people. Its short, morality-driven films attract nearly 300 million views every week, making Mann one of YouTube’s most recognisable storytellers.
Success did not come overnight. After legal troubles linked to a failed real estate venture in 2013, Mann rebuilt his career through entrepreneurship before turning to online video. Today, his stories about kindness, empathy and second chances reach millions across the world.
MrBeast may still top the list. But just below him sits the son of Indian immigrants, reminding us that the diaspora is no longer just consuming the internet. It is helping shape what the world watches.
OFFBEAT
Cinderella gets a desi makeover
One of Britain’s oldest theatre traditions is getting a distinctly Indian twist.
Surinderella, a British Indian musical adaptation of Cinderella, opens its UK tour this week, reimagining the classic fairy tale with bhangra, Bollywood and a generous helping of desi humour. Produced by Rifco Theatre Company, the show blends everything audiences expect from British pantomime with a South Asian flavour rarely seen on its stages.
Surinder dreams of escaping a life of chores. Her only friend is Basanti, a talking cow. Her tormentors are Lovely and Bubbly, two selfie-obsessed, Insta-vlogging stepsisters. Prince Kavi replaces Prince Charming, while a Devi Godmother waves the magic wand. The original soundtrack comes from British bhangra artist PBN, better known as “The Hitmaker”.
For artistic director Pravesh Kumar, Surinderella is about more than retelling a fairy tale. British South Asians have long grown up watching pantomime but rarely recognised themselves in it. This production keeps the music, comedy and audience participation that define the tradition, while proving that even Cinderella can feel at home with a little masala.
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NRI SPOTLIGHT
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Disclaimer
Views expressed above are the author’s own.
