• Federal Reserve Governor Christopher Waller states he has not been interviewed for the central bank's top job.
  • The formal selection process, led by Treasury Secretary Scott Bessent, is underway with a reported 11 candidates.
  • The outcome is critical for future monetary policy direction amid ongoing inflation concerns and market volatility.

Federal Reserve Governor Christopher Waller, often cited as a potential front-runner to succeed Jerome Powell, said Tuesday that he has not been interviewed for the position of Chair. "I have not had an interview for the Fed Chair job," Waller stated, according to people familiar with his remarks.

The comments come as a formal selection process, spearheaded by U.S. Treasury Secretary Scott Bessent, is actively underway. The process, which began shortly after Labor Day, is now in the interview phase. While no official shortlist has been presented to the President, as many as 11 candidates are reportedly under consideration. Besides Waller, the field is said to include fellow Fed Governors Michelle Bowman and Philip Jefferson, as well as Dallas Fed President Lorie Logan.

A spokesperson for the Fed declined to comment on the selection process. Efforts to reach a representative for the Treasury Department were not immediately successful.

The search for the next Fed chair is being closely watched by financial markets, given the appointee's outsized influence on global interest rate policy and financial stability. The decision comes at a delicate juncture, with policymakers grappling with persistent inflation and debating the timing of potential rate cuts. Contenders are believed to hold divergent views on the path for monetary policy, ranging from more accommodative to decidedly hawkish stances.

The ultimate selection, which is subject to Senate confirmation, is expected to signal the administration's economic priorities and could reshape U.S. monetary policy for years to come. Market participants are parsing any available details for clues on whether the next chair will prioritize fighting inflation or adopt a more growth-oriented approach.