The Federal Reserve Bank of Atlanta restarted its leadership search after pausing it until the new Fed chairman took office, as Trump administration officials watch a selection that will shape a 2027 rate vote.
The Federal Reserve Bank of Atlanta has resumed its search for a new president after pausing the process when it became clear a replacement for Raphael Bostic could not be chosen before Kevin Warsh was sworn in as Fed chairman in late May. The restart gives Warsh a chance to weigh in on the selection of a regional bank chief who will participate in Federal Open Market Committee deliberations and hold a vote on interest rates in 2027. The process is being closely watched by members of President Donald Trump’s economic policy team, including Treasury Secretary Scott Bessent and White House Economic Council Director Kevin Hassett, according to people familiar with the matter. That attention has fueled concern inside and around the central bank over how far Trump administration officials may try to influence a post that is normally chosen by a regional Fed board and then approved by the Board of Governors. Candidates interviewed have included Rebecca Patterson of the Council on Foreign Relations, economist Marc Sumerlin and Michael Faulkender, a former deputy Treasury Secretary under Bessent. The search is unfolding as Trump and his advisers look for ways to reshape the Fed, including through litigation over Lisa Cook’s status and broader scrutiny of the reserve banks’ role in monetary policy.