Federal Reserve Governor Christopher Waller recently reflected on his latest interaction with Bessent during a conversation with Fox News, noting that he regarded their exchange as both productive and encouraging. Elaborating further in a late November interview with Fox Business, Waller explained that their discussion had taken place roughly ten days prior, emphasizing that it unfolded in a constructive and positive atmosphere that left him with a sense of mutual understanding and progress.
During his remarks, Waller observed that the White House appears to be prioritizing candidates who possess significant professional experience for the role under consideration. However, he acknowledged that the exact nature of the qualifications being sought remains ambiguous. Among the individuals reportedly shortlisted, only three possess direct experience serving within the central bank system itself—a detail that underscores how selective and technical the appointment process has become. Reflecting on these expectations, Waller expressed confidence in his own credentials, stating that the administration seems intent on identifying a figure characterized by merit, demonstrated expertise, and a deep familiarity with the practical demands of the position—attributes he firmly believes he embodies.
Shortly before the Thanksgiving holiday, Waller overtook White House economic advisor Kevin Hassett as the frontrunner according to leading online prediction markets, including Polymarket and Kalshi. Although his margin over Hassett is narrow, this shift reflects a noticeable change in market sentiment about who may ultimately be selected for the prominent Federal Reserve role.
Waller’s long-standing background within the Federal Reserve system has contributed to his reputation as a conventional and reliable choice. When then-President Donald Trump nominated him to the central bank in 2019, many observers perceived Waller as the more traditional counterpart to another nominee, Judy Shelton—a former campaign advisor and outspoken critic of certain Fed policies. The ensuing political debate surrounding Shelton’s nomination inevitably affected perceptions of Waller’s candidacy as well, intertwining the two appointments in the public and legislative arena.
Ultimately, in December 2020, the U.S. Senate confirmed Waller to his position by a razor-thin 48–47 vote—a margin that, according to reporting by The New York Times, represented the narrowest confirmation for any Federal Reserve governor since 1980. This extremely close outcome highlighted both the intensity of partisanship surrounding monetary appointments and the level of scrutiny faced by nominees to one of the nation’s most influential economic institutions.
Continuing his active role at the Federal Reserve, Waller joined Governor Michelle Bowman—herself another Trump-era appointee—in July in formally opposing the central bank’s decision to maintain rather than reduce interest rates. Their joint dissent marked the first instance in more than three decades that two governors simultaneously registered a formal objection to such a monetary policy decision. The rare dual dissent served as a reminder of the diversity of perspectives within the Fed’s leadership and underscored Waller’s willingness to assert his policy convictions even when they diverge from the institutional majority.
Sourse: https://www.businessinsider.com/trump-fed-shortlist-jerome-powell-replacement-2025-11
