## The Fed Chair Search Heats Up: Is Rick Rieder Next?
The hunt for the next Federal Reserve chair is ongoing, and the latest name in the mix is Rick Rieder, BlackRock’s bond chief. Here’s a quick rundown of what’s happening:
- **Rieder’s Interview:** Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock, interviewed with Treasury Secretary Scott Bessent, the Trump administration’s key figure in the search.
- **Focus of Discussion:** The interview covered monetary policy and structural issues within the Federal Reserve. Bessent is reportedly seeking not just new leadership, but also fundamental changes in how the Fed operates.
- **Other Candidates:** Bessent has also spoken with former Fed Governors Kevin Warsh and Lawrence Lindsey, and James Bullard, former president of the St. Louis Fed.
- **Trump’s Preference:** President Trump hasn’t publicly stated his preference, but the list of potential candidates includes a diverse group of individuals, including past and present Fed officials, Wall Street strategists, and economists.
- **Market Context:** The Fed is expected to announce its first interest rate cut since December 2024 next week. Trump has been pushing for larger cuts, citing concerns about the housing market and government borrowing costs.
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