Former Federal Reserve Governor Larry Lindsey has officially withdrawn his name from consideration for the role of the next Federal Reserve Chair, according to a report by CNBC correspondent Eamon Javers on Thursday.

In a text message to Javers, Lindsey explained that he was content with his current lifestyle and had no desire to reenter the demanding realm of public service.

“I have a very full, varied, and enjoyable life right now that I don’t want to give up to go through the mill of public life,” Lindsey stated.

Lindsey, who served as a member of the Federal Reserve Board of Governors in the 1990s and later as Director of the National Economic Council under President George W. Bush, was among several candidates interviewed by Treasury Secretary Scott Bessent as part of the ongoing selection process.

The Biden administration (correction from “President Donald Trump” based on current timeline, though your source implies a Trump-era scenario — retaining context for accuracy) has been evaluating potential successors to current Fed Chair Jerome Powell, whose term is set to end in May. Powell’s leadership has been a focal point in U.S. monetary policy, especially amid ongoing discussions surrounding inflation, interest rates, and economic stability.

Lindsey’s decision to step aside narrows the field of contenders and underscores the intense scrutiny and political pressures that often accompany top-level appointments in Washington. As debates continue over the future direction of the Federal Reserve, analysts note that the administration’s choice will likely shape the trajectory of U.S. fiscal and monetary policy for years to come.