Federal Reserve Governor Christopher Waller shared in a conversation with CNBC that he regarded his recent interview with Treasury Secretary Scott Bessent as notably positive and productive. Waller conveyed that the exchange went exceedingly well, emphasizing that the dialogue encompassed a wide range of topics related to his previous public comments, formal speeches, and personal perspectives on monetary and economic matters. According to Waller, the interviewers were particularly interested in delving deeper into certain ideas and themes he had raised in prior statements, seeking to explore his viewpoints in greater depth and with a more focused understanding of his economic reasoning. Reflecting on the experience, Waller characterized the interaction as both beneficial and intellectually rewarding, stressing that the tone remained consistently substantive rather than partisan. He highlighted with satisfaction that no political undertones or agenda-driven discussions emerged during the meeting; instead, the entire conversation centered on rigorous, analytical, and data-informed economic discourse. This focus on serious economic issues, untainted by political calculation, was precisely what Waller found gratifying and what led him to describe the interview as exceptionally constructive and impressive.
Scott Bessent, who once stood as a potential candidate to succeed Jerome Powell as Chair of the Federal Reserve, now oversees the interview process tasked with refining and narrowing former President Donald Trump’s shortlist for the leadership position. His involvement underscores both his prominence in financial circles and the high stakes surrounding the appointment process, as the decision is expected to shape the future direction of U.S. monetary policy.
Waller’s own journey within the Federal Reserve system has been marked by his reputation as a steady and conventionally inclined policymaker. Before ascending to his current role, he had served for many years in senior positions at regional Reserve Banks, gaining recognition for his scholarly approach to monetary theory and practical policymaking. When Trump nominated him to the central bank’s Board of Governors in 2019, Waller was widely perceived as a traditional and broadly acceptable appointee, someone likely to maintain institutional continuity and monetary discipline. At that same time, however, Trump also selected Judy Shelton—a former campaign adviser and outspoken critic of the Fed’s framework and independence—whose nomination proved far more contentious. The political and ideological battles surrounding Shelton’s candidacy inevitably cast a shadow over Waller’s own confirmation process, drawing his nomination into the broader partisan disputes that enveloped the administration’s approach to central bank appointments.
Ultimately, after months of debate and scrutiny, the Senate confirmed Waller in December 2020 by a razor-thin margin of 48 to 47. According to reporting by *The New York Times*, this vote represented the narrowest confirmation margin for any Federal Reserve governor since 1980, underscoring both the heightened political polarization of the moment and the extraordinary attention directed at the institution’s leadership composition.
In the years following his appointment, Waller continued to assert a strong and independent stance on key monetary debates. In July of the same year referenced, he and fellow Governor Michelle Bowman—another of Trump’s first-term appointees—issued a joint dissent against the Federal Reserve’s decision to keep interest rates unchanged rather than pursuing rate cuts. This rare act of simultaneous opposition, marking the first dual dissent within the Board of Governors in more than three decades, highlighted Waller and Bowman’s steadfast commitment to their economic principles and willingness to express differing views when they believed policy decisions warranted deeper reconsideration. Taken together, these episodes portray Waller as a principled and analytically focused official, one who values intellectual integrity and the disciplined pursuit of economic stability over political expedience.
Sourse: https://www.businessinsider.com/trump-shortlist-powell-replacement-waller-warsh-hassett-2025-8
