Fed Chair Frenzy: BlackRock’s Rick Rieder Emerges as Top Contender in High-Stakes Race
Wall Street's whispering game hits fever pitch as the Fed chair speculation reaches critical mass.
THE DARK HORSE CANDIDATE
Rick Rieder's trajectory from BlackRock's fixed-income chief to potential Fed leadership reads like a financial thriller—minus the actual thrills. The man who managed $2.4 trillion in assets now eyes the ultimate monetary policy throne.
MARKETS ON EDGE
Traders scramble to reposition portfolios as the possibility of a Wall Street insider taking the helm sends shockwaves through rate markets. The irony? The same institutions that caused 2008 might now control the regulatory reins.
THE CRYPTO WILDCARD
Digital asset traders watch with peculiar interest—a BlackRock alum at the Fed could mean friendlier policy or just more sophisticated manipulation. Either way, volatility's back on the menu.
Because nothing says 'central bank independence' like putting a guy who mastered the art of leveraging everything in charge of the money printer.
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On Friday, Treasury Secretary Scott Bessent interviewed Rieder, with the two-hour discussion including topics like monetary policy and the structure of the Fed, said the official. Bessent has now interviewed four Fed chair candidates.
Bessent Praises Rieder as Waller Stays Ahead
The official added that Bessent was pleased with Rieder’s career experience and his knowledge of both micro- and macroeconomic indicators. Bessent was also supportive of Rieder’s use of forward-looking data to gauge economic strength.
Fed Governor Christopher Waller still leads the Fed Chair race, according to prediction platform Polymarket. Waller has a 31% chance of being selected by Trump by December 31, followed by National Economic Council Director Kevin Hassett at 14% and former Fed Governor Kevin Warsh at 13%.
