On June 17th, according to CNN reporter Bryan Mena, although Walsh cannot achieve Trump's requested interest rate cut alone, he has made it clear that the Federal Reserve will not continue with business as usual. Walsh has hired two conservative policy veterans as temporary advisors to the Federal Reserve. One of them is Paul Winfrey, and the other is Daniel Hale. In addition, Walsh has stated that there are "a large number of redundant personnel" within the Federal Reserve, suggesting that he may undergo a major overhaul of the Fed's approximately 3000 Washington based employees. Powell started the layoff process last year to complement similar actions at the federal government level. Walsh also suggested that Federal Reserve officials view inflation in a different way, focusing on another measure of inflation called the "truncated mean". At the confirmation hearing in April, Walsh stated that these indicators capture "what the potential inflation rate is, rather than a one-time price change caused by geopolitical changes or changes in beef prices." With new advisors in place, discussions about "institutional change" are underway, and Walsh's press conference is bound to send a clear signal for the first time on how far he intends to go in reshaping the Federal Reserve.