Waller will "compete on the same stage" with former boss Powell to become Fed chairman.

According to reports, two traditionalists in the economics world, James Bullard and Marc Sumerlin, have emerged as potential successors to current Federal Reserve Chairman Powell. Another competitor for the position of Fed chair, Christopher Waller, was confirmed by the Senate in 2020 with a very slim majority. Bullard, who was the St. Louis Fed president at the time, nominated him for the position.