diff --git a/src/init.cpp b/src/init.cpp
index 549cbfcec80f1..a129db1c226b4 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -1292,9 +1292,6 @@ bool AppInitMain(NodeContext& node, interfaces::BlockAndHeaderTipInfo* tip_info)
         validation_signals.RegisterValidationInterface(fee_estimator);
     }
 
-    assert(!node.mempool_fee_estimator);
-
-    node.mempool_fee_estimator = std::make_unique<MemPoolPolicyEstimator>();
 
     // Check port numbers
     for (const std::string port_option : {
@@ -1621,6 +1618,13 @@ bool AppInitMain(NodeContext& node, interfaces::BlockAndHeaderTipInfo* tip_info)
 
     ChainstateManager& chainman = *Assert(node.chainman);
 
+    assert(!node.mempool_fee_estimator);
+
+    node.mempool_fee_estimator = std::make_unique<MemPoolPolicyEstimator>();
+    MemPoolPolicyEstimator* mempool_fee_estimator = node.mempool_fee_estimator.get();
+    CBlockPolicyEstimator* fee_estimator = node.fee_estimator.get();
+    CTxMemPool& mempool = *(node.mempool.get());
+    node.scheduler->scheduleEvery([mempool_fee_estimator, fee_estimator, &mempool, &chainman] { mempool_fee_estimator->EstimateFeeWithMemPool(chainman, mempool, fee_estimator); }, FEE_ESTIMATE_INTERVAL);
     assert(!node.peerman);
     node.peerman = PeerManager::make(*node.connman, *node.addrman,
                                      node.banman.get(), chainman,
diff --git a/src/policy/mempool_fees.cpp b/src/policy/mempool_fees.cpp
index ae4d7ad2f8af4..c1b9f6d14e985 100644
--- a/src/policy/mempool_fees.cpp
+++ b/src/policy/mempool_fees.cpp
@@ -6,9 +6,10 @@
 #include <consensus/consensus.h>
 #include <logging.h>
 #include <node/miner.h>
+#include <policy/fees.h>
 #include <policy/mempool_fees.h>
 #include <policy/policy.h>
-
+#include <validation.h>
 
 using node::GetCustomBlockFeeRateHistogram;
 
@@ -59,10 +60,25 @@ MempoolFeeEstimationResult MemPoolPolicyEstimator::EstimateFeeWithMemPool(Chains
     if (fee_rate_estimate_result.empty()) {
         err_message = "Insufficient mempool transactions to perform an estimate.";
     }
-
     return fee_rate_estimate_result;
 }
 
+void MemPoolPolicyEstimator::EstimateFeeWithMemPool(const ChainstateManager& chainman, const CTxMemPool& mempool, const CBlockPolicyEstimator* fee_estimator) const
+{
+    std::string err_message;
+    LOCK(cs_main);
+    CBlockIndex* block = chainman.ActiveTip();
+    MempoolFeeEstimationResult estimate = EstimateFeeWithMemPool(chainman.ActiveChainstate(), mempool, /*confTarget=*/1, /*force=*/true, err_message);
+    FeeCalculation feeCalc;
+    CFeeRate block_estimate = fee_estimator->estimateSmartFee(/*conf_target=*/1, &feeCalc, /*conservative=*/false);
+    if (estimate.empty()) {
+        LogInfo("At block %s, height %s, failed to get mempool based fee rate estimate; error: %s \n", block->phashBlock->GetHex(), block->nHeight, err_message);
+    } else {
+        LogInfo("At block %s, height %s, mempool based fee rate estimate for next block has a 75th percentile fee rate %s, 50th percentile fee rate %s, 25th percentile fee rate %s, 5th percentile fee rate %s, block estimate for next block is %s \n",
+                    block->phashBlock->GetHex(), block->nHeight, estimate.p75.GetFeePerK(), estimate.p50.GetFeePerK(), estimate.p25.GetFeePerK(), estimate.p5.GetFeePerK(), block_estimate.GetFeePerK());
+    }
+}
+
 std::map<uint64_t, MempoolFeeEstimationResult> MemPoolPolicyEstimator::EstimateBlockFeeRatesWithMempool(
     const std::vector<std::tuple<CFeeRate, uint64_t>>& mempool_fee_stats, unsigned int confTarget) const
 {
diff --git a/src/policy/mempool_fees.h b/src/policy/mempool_fees.h
index f024128e7fcd6..13df80057062a 100644
--- a/src/policy/mempool_fees.h
+++ b/src/policy/mempool_fees.h
@@ -15,13 +15,17 @@
 #include <logging.h>
 #include <policy/feerate.h>
 
+class CBlockPolicyEstimator;
 class Chainstate;
+class ChainstateManager;
 class CTxMemPool;
 
 // Fee rate estimates above this confirmation target are not reliable,
 // mempool condition might likely change.
 static const unsigned int MAX_CONF_TARGET{1};
 
+static constexpr std::chrono::minutes FEE_ESTIMATE_INTERVAL{1};
+
 // Fee estimation result containing percentiles (in sat/kvB).
 struct MempoolFeeEstimationResult {
     CFeeRate p5;  // 5th percentile
@@ -114,6 +118,7 @@ class MemPoolPolicyEstimator
      * @return The estimated fee rates.
      */
     MempoolFeeEstimationResult EstimateFeeWithMemPool(Chainstate& chainstate, const CTxMemPool& mempool, unsigned int confTarget, const bool force, std::string& err_message) const;
+    void EstimateFeeWithMemPool(const ChainstateManager& chainstate, const CTxMemPool& mempool, const CBlockPolicyEstimator* fee_estimator) const;
 
 private:
     mutable CachedMempoolEstimates cache;