## The Fed Chair Search Heats Up: Is BlackRock’s Rick Rieder the Next Contender?
The search for the next Federal Reserve chair is in full swing, with the White House actively interviewing potential candidates. Here’s a quick rundown of the latest developments:
- Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income, is the latest name to surface as a potential candidate.
- Treasury Secretary Scott Bessent, the Trump administration’s point man for the selection, interviewed Rieder on Friday.
- The interview focused on monetary policy and structural issues within the central bank. Bessent is reportedly seeking fundamental changes in the Fed’s operations.
- Bessent has also spoken with other potential candidates, including former Fed Governors Kevin Warsh and Lawrence Lindsey, and James Bullard.
- Trump’s preference remains unclear, but Rieder, like current chair Jerome Powell, would represent a departure from the traditional academic background of previous Fed chairs.
- The Fed is expected to meet next week, with markets anticipating the first interest rate cut since December 2024. Trump has been pushing for larger cuts.
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