The Fed chair race is heating up with U.S. President Donald Trump set to interview BlackRock’s Chief Investment Officer of Global Fixed Income, Rick Rieder. This follows the president’s interview with Fed Governor Chris Waller, who is also one of the candidates to replace Jerome Powell.
Trump To Interview BlackRock’s Rick Rieder For Fed Chair Role
According to a CNBC report, the U.S. president will interview the BlackRock CIO in the last week of the year. This comes as the Fed chair shortlist is now down to our candidates, namely, Kevin Hassett, Kevin Warsh, Chris Waller, and Rieder. Fed Governor Michelle Bowman is no longer a candidate to replace Jerome Powell, according to reports.
The BlackRock CIO is the only remaining candidate that Trump has yet to interview. As CoinGape reported, the U.S. president interviewed Waller earlier this week, an interview which senior administration officials described to CNBC as being “strong,” as they discussed the labor market in depth.
Notably, Hassett and Waller have shown that they could support lower interest rates if they become the next Fed chair. Meanwhile, Trump said that Warsh agrees with him largely on interest rates. Additionally, Rieder once voiced support for rate cuts earlier this year, although he has not recently stated whether he still holds this view of more rate cuts.
This is key, as the U.S. president has made it clear that he will nominate someone who supports larger cuts. He recently stated that immediate rate cuts would be a litmus test for whoever becomes the next Fed chair. Hassett recently stated that it will be appropriate to make more cuts right now. Meanwhile, Waller said the labor market is signaling they should make more cuts, though he added there is no rush.
Crypto Traders Increase Bets On Rieder
Crypto traders on Polymarket have increased their bets on the BlackRock CIO ahead of his interview with Trump. Polymarket data shows a 6.5% chance that Trump will nominate Rieder to become the next Fed chair.
Source: PolymarketMeanwhile, Hassett has reclaimed his position as the favorite to get the nod, with a 56% chance. CoinGape reported earlier this week that Warsh briefly flipped Hassett as the favorite, as some of Trump’s advisors raised concerns about Hassett’s close relationship with the president.
Warsh’s odds have since dropped, as there is only a 21% chance that Trump will nominate him to become the next Fed chair. Waller is the third-favorite to replace Powell with a 14% chance of that happening.
Trump stated that he will soon announce his nominee for Fed chair, which is expected to happen in early next year. However, Powell’s term as the Fed chair doesn’t end until May 2026.
Source: https://coingape.com/trump-to-interview-blackrocks-rick-rieder-as-fed-chair-shortlist-narrows-to-four/
