## The Fed Chair Search Heats Up: Rick Rieder Enters the Fray
The hunt for the next Federal Reserve chair is heating up, with a new contender emerging from the financial world. Here’s a quick rundown of the latest developments:
- Rick Rieder, BlackRock’s bond chief, is a top candidate: He reportedly interviewed with Treasury Secretary Scott Bessent, the Trump administration’s lead on the matter.
- The interview focused on policy and structural changes: Bessent is looking for both new leadership and potentially significant shifts in how the Fed operates.
- Other candidates are also in the mix: Bessent has also spoken with former Fed Governors Kevin Warsh and Lawrence Lindsey, as well as James Bullard.
- Trump’s preference remains unclear: The President has a list of 11 candidates, including both traditional and non-traditional backgrounds. Rieder, like current chair Powell, doesn’t have a PhD in economics.
- The Fed is meeting next week: Markets anticipate an interest rate cut, but Trump is pushing for even larger cuts.
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