The search process for the next president of the Federal Reserve Bank of Atlanta was reset when Kevin Warsh took over as the chairman of the U.S. central bank, according to CNBC. The extent of any changes to the process or the candidates under consideration is not clear.
Background
Sources familiar with the search for a new Atlanta Fed president have told Reuters the process was nearing a conclusion in the spring, but the decision was made to delay the hiring until new Chairman Kevin Warsh was sworn in so that he could review any proposed candidate. Though regional Fed bank presidents are chosen by local boards of directors, they must be approved by the Washington-based Board of Governors.
The Atlanta Fed did not comment directly on the matter, but forwarded a statement from Atlanta Fed board chair Gregory Haile. “Our committee is conducting a thorough and deliberate search for the next president of the Federal Reserve Bank of Atlanta. We maintain our focus on selecting the best candidate to serve the Sixth District, while protecting the integrity of the process,” Haile said.
The search to replace former Atlanta Fed President Raphael Bostic, who retired on February 28, has taken on outsized importance because of the Trump administration’s push to gain influence over the Fed and monetary policy.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
