BlackRock’s Rick Rieder Climbs Ranks of Fed Chair Contenders

(Bloomberg) – Blackrock Inc. According to a administrative official, Rick Rimer, his manager, raises the list of contestants to serve as the next president of the Federal Reserve after Jerome Powell ended in May.

In a comprehensive interview in New York on Friday, a two -hour interview, Treasury Secretary Scott Bessent and Rieder discussed the Fed’s monetary policy, a organizational structure and regulatory policy.

Authorized, Bessent has so far met with four of the four of the 11 candidates called the public for the best Central Bank job. According to the person, one or two more names will be added to this list.

Rieder is one of the top managers of Blackrock, which controls the firm’s fixed income business. In 2009, he joined the company at Lehman Brothers Inc. about twenty years later. The Blackrock representative had no immediately comment.

According to someone familiar with the thought of the Treasury secretary, Bessent was influenced by his long career in the markets that manage large groups and his deep understanding of micro and macro-floor companies. The person said that financial firms other than Rieder will bring a quiet attitude and in -depth information.

Bessi appreciates Riedered’s ability to use forward frames to evaluate the economy instead of relying on retrospective data.

The Treasury chief was influenced by a similar intuitiveness after a speech with the Fed Governor Christopher Waller during the summer. President Donald Trump was disappointed with his dependence on data to guide Powell’s Fed’s next movements and named it a “too late”.

One was in the room for Bessent’s meeting with Rieder, one of which was a macroeconomist, the other with regulatory and market expertise.

Last week, Trump said Waller, former Fed official Kevin Warsh and the White House National Economic Council Director Kevin Hassett for the best candidates for the FED President.

However, he was awarded to Bessent to carry out a comprehensive search process. The Treasury Chief said that he would interview with all competitors and offer Trump to three to four short list this autumn.

-Help from Sillla Brush.

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