## The Fed Chair Search Heats Up: Is Rick Rieder Next?
The hunt for the next Federal Reserve chair is heating up, and the latest name in the mix is Rick Rieder, the bond chief at BlackRock. Here’s a quick rundown of the situation:
- **Rieder’s Interview:** Rick Rieder, BlackRock’s chief investment officer of global fixed income, 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 a new leader, but also significant changes in how the Fed operates.
- **Other Candidates:** 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 Preference:** President Trump hasn’t publicly revealed his preference, but the list of potential candidates includes a diverse group of individuals from the Fed, Wall Street, and academia. Rieder, like current chair Jerome Powell, doesn’t hold a PhD in economics, a departure from tradition.
- **Market Context:** The Fed is expected to announce its first interest rate cut since December 2024 at its next meeting, though Trump is pushing for even larger cuts.
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