The Powell Succession: Waller's Bid to Uphold Fed Independence

Federal Reserve Governor Christopher Waller is in the running to replace Fed Chair Jerome Powell. President Trump plans to interview him and other contenders. Waller insists on the importance of the central bank's independence, emphasizing its role free from political influence.

Federal Reserve Governor Christopher Waller is among the top contenders for the position of Fed Chair as the tenure of Jerome Powell approaches its end. President Donald Trump is set to interview Waller, who vows to defend the central bank's independence amid political pressures.

Waller, appearing at a New York event, emphasized traditional communication channels between the Fed and the Treasury. He highlighted regular meetings as an adequate method for conveying administrative needs without compromising the central bank's autonomy.

Recent speculation suggests political dynamics may influence the selection process. Waller's commitment to data-driven monetary policy resonates with corporate leaders advocating for his appointment, despite uncertainty about Trump's final decision.

(With inputs from agencies.)