Core Insights - The article discusses the upcoming decision regarding the next Federal Reserve chair, with expectations for an announcement in December [3][4][16] - There is speculation about the candidates and their potential policy differences, particularly regarding inflation and the operational framework of the Fed [4][5][6] Candidate Selection Process - Besson plans to conduct further interviews, potentially leading to leaks about preferred candidates, with a decision expected after Thanksgiving [2] - The president is believed to have a preferred candidate in mind, which may expedite the selection process [2][3] Policy Perspectives - Most candidates are described as hawkish, with a consensus on fighting inflation, but there are differing views on the Fed's operational systems and powers [4][5][7] - Some candidates advocate for a return to the corridor system from the current floor system, which would represent a significant shift in Fed operations [5][6] Decision-Making Dynamics - The chair's diplomatic skills are crucial in navigating discussions among Fed governors, aiming for consensus on policy decisions [9][10] - The current environment is characterized by a divided Fed, which may influence the incoming chair's approach to policy [8][10] Historical Context - The article notes that the current selection process is unusual compared to past appointments, which typically did not involve extensive public speculation [11][12] - Previous Fed chairs were often chosen based on their qualifications and political alignment, with less emphasis on public perception [12][13]