## The Fed Chair Search Heats Up: Is Rick Rieder Next?
The hunt for the next Federal Reserve chair is heating up, with a new frontrunner emerging: Rick Rieder, the bond chief at BlackRock. Here’s a quick rundown of the latest developments:
- **Rick Rieder in the Running:** Rieder, BlackRock’s chief investment officer of global fixed income, interviewed with Treasury Secretary Scott Bessent, the Trump administration’s key figure in the selection process.
- **Focus on Policy and Structure:** The interview covered monetary policy and potential structural changes within the Federal Reserve. Bessent is looking for more than just a new leader.
- **Other Candidates Interviewed:** Bessent has also spoken with former Fed Governors Kevin Warsh and Lawrence Lindsey, as well as James Bullard, former president of the St. Louis Fed.
- **Trump’s Preferences Unclear:** President Trump hasn’t publicly stated his preference, but the list of potential candidates includes a diverse group, including those without traditional economics PhDs.
- **Rate Cut on the Horizon:** The Fed is expected to discuss its first interest rate cut since December 2024 next week, a move Trump has been pushing for.
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