Fed Chair Nominee Waller Hires Two Conservative Advisors, Signals Broader Reforms

According to CNN reporter Bryan Mena on June 17, Federal Reserve Chair nominee Waller has hired two conservative policy veterans as interim advisors: Paul Winfrey and Daniel Heil. Waller has suggested the Fed may restructure its approximately 3,000 Washington-based workforce, stating the institution contains "substantial redundancy." Additionally, Waller has recommended the Fed adopt an alternative inflation metric, the trimmed mean, to capture underlying inflation trends excluding one-time price shifts due to geopolitical events or commodity price changes. His upcoming press conference is expected to signal how far Waller intends to pursue institutional reforms.
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