By Howard Schneider
June 23 (Reuters) – 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, CNBC reported on Tuesday, citing two unnamed people familiar with the matter.
The extent of any changes to the process or the candidates under consideration is not clear.
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. “We will provide relevant updates about this important leadership role when appropriate.”
The Federal Reserve Board in Washington did not comment.
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, including through the attempted firing of Fed Governor Lisa Cook and pressure through a since-dropped criminal investigation of former Chair Jerome Powell, who remains on the Fed board.
The Fed’s 12 regional bank presidents vote on interest rate policy on a rotating basis, and also oversee large staffs who along with operational duties carry out extensive research on a broad set of topics.
Hired outside of the direct presidential appointments and Senate confirmation used in filling seats on the Board of Governors, they are considered both important to the Fed’s political independence and a key channel for information about economic conditions around the country.
A concerted push by the White House or the Treasury Department to influence who fills the regional jobs would alter a system that has largely flown under the radar of Washington political battles, and indeed is designed to serve as a check on centralized power.
Treasury Secretary Scott Bessent last year expressed interest in how the regional presidents were appointed, suggesting they be subject to a residency requirement.
(Reporting by Dan Burns and Howard Schneider; Editing by Chris Reese and Andrea Ricci )
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