Can Walmart help the Fed harness real-time U.S. economic data? We’re about to find out.

The Federal Reserve has appointed former Walmart CEO Doug McMillon to a specialized task force. This initiative aims to develop contemporaneous data regarding U.S. spending, inflation, and growth to enhance economic forecasting. By building a real-time economic data engine, the Fed seeks to obtain more immediate insights. This project could potentially align traditional data analysis with blockchain data to provide a more accurate and timely understanding of the current economic landscape and overall financial trends.