A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
Final decisions are not imminent in the efforts to find successors to Philadelphia Fed President Charles Plosser, who steps down March 1, and Richard Fisher of the Dallas Fed, who retires on March 19.
But the clock is ticking to fill those positions, with names beginning to surface as potential candidates.
Matthew Rutherford, whose stint as Treasury's top domestic finance official ended on Friday, was under consideration at least in early stages of the searches, according to three sources. James McAndrews, who heads up research at the neighboring New York Fed, was considered for the job in Philadelphia, where he once worked.
It was unclear whether a short list for either opening had been assembled yet.
Regular golfing partners, Plosser and Fisher are ardent inflation hawks who have repeatedly dissented against the easy money path pursued by Fed Chair Janet Yellen and her predecessor, Ben Bernanke. While most of the 12 regional Fed presidents vote on monetary policy only every three years, they always help shape the debate both behind closed doors and in public speeches.
The parallel searches have gained momentum since December. According to one person called for advice, the Philadelphia Fed is seeking someone with the academic background to take the reins from Plosser, a former professor. A person familiar with the Dallas Fed's effort said the search committee was looking for a candidate with similar policy leanings as Fisher.