[Federal Reserve Chair Nominee Waller: The Central Bank Needs a New Inflation Response Framework] Kevin Waller, the Federal Reserve Chair nominee appointed by Trump, stated that the Federal Reserve requires a new framework to address persistent inflation but did not provide further specific details. During the hearing, Waller attributed the post-pandemic inflation surge to the Federal Reserve and noted that high prices continue to pose challenges for the American public. At the Senate Banking Committee hearing on Tuesday, Waller remarked: 'Although inflation has eased now and the pace of price increases is more moderate than a few years ago, hardworking Americans are undoubtedly still feeling the strain.' He added, 'I believe this means that policy implementation requires a mechanism overhaul, necessitating a different, entirely new inflation framework.' Waller did not specify what impact this would have on interest rates. During Waller's remarks, international gold and silver prices declined. Spot gold fell 1.89%, to $4,729.57 per ounce; spot silver dropped 3.25%, to $77.11 per ounce.