[Atlanta Fed's New President Selection Process Stalls] According to a report by Jinse Finance on June 27, citing 'Fed Whisperer' Nick Timiraos and informed sources, the selection process for the new president of the Federal Reserve Bank of Atlanta has stalled. The initial list of candidates failed to yield a final selection, forcing the bank to restart the process that has already lasted seven months. On the surface, this appears to be a minor procedural hiccup. However, at the same time, the Federal Reserve's independence is facing a severe test. The presidents of the Federal Reserve Banks are crucial to the Fed's independence: they participate in setting interest rates, and their appointment process is deliberately designed to avoid influence from Washington's political operations.