BlackRock's Rieder the latest candidate to interview in Fed chair search

The White House hunt for the adjacent Federal Reserve seat continues to twist and turn, with BlackRock enslaved main Rick Rieder emerging arsenic the latest blistery candidate.

Administration sources archer CNBC that the plus absorption giant's main concern serviceman of planetary fixed income interviewed Friday with Treasury Secretary Scott Bessent, the Trump administration's constituent antheral for Jerome Powell's successor.

"Whoever ends up being the Fed chair, there's truthful galore innovative things," Rieder said Tuesday during a CNBC appearance.

The treatment with Rieder centered connected monetary argumentation arsenic good arsenic structural issues related to the cardinal bank, sources said. Bessent has publically stated that helium wants to spot not lone caller enactment astatine the Fed but besides cardinal changes successful the mode it operates.

Along with the Rieder interview, Bessent earlier this week spoke with erstwhile Fed Governors Kevin Warsh and Lawrence Lindsey arsenic good arsenic James Bullard, who had served arsenic president of the St. Louis Fed.

Trump has fixed small denotation astir his penchant from a database reported to see 11 candidates, including past and contiguous Fed officials, Wall Street strategists and salient economists. Like Powell, Rieder would connection a departure from accepted cardinal slope chiefs having PhDs successful economics.

The Fed meets adjacent week, with markets wide expecting the archetypal involvement complaint chopped since December 2024. Trump, though, has demanded larger cuts arsenic helium sees higher rates damaging the lodging marketplace and raising borrowing costs for the government.