Talk swirled after Powell and Bush appeared together twice last week. On May 23, Powell joined former secretaries of State Henry Kissinger and George Shultz on the podium when Bush delivered a major speech calling for a broad missile-defense system and a reduced nuclear arsenal. Two days later, Powell was again beside Bush at an Austin ceremony honoring America’s Promise, the youth- oriented nonprofit Powell chairs.

A longtime Bush family friend, Powell has worked with W on policy issues since mid-‘99. And senior GOP advisers are urging Bush to embrace the ex-joint chiefs chairman as a signal that though the governor may be inexperienced, he’ll surround himself with foreign-policy experts.

Because of his crossover appeal to Democrats, Powell makes GOP pulses race. In Austin, he once again ruled out the vice presidency. But asked about State, he waffled: “One has to listen when the president asks you to consider a job.”