Trump Calls BlackRock Bond Boss, Fed Chair Race Heats Up
US President Donald Trump is reportedly set to interview Rick Rieder—BlackRock’s Chief Investment Officer (CIO) of Global Fixed Income—on Thursday as a candidate for the next Federal Reserve Chair, according to Fox Business Network citing administration sources.
Rieder is among four finalists to replace Jerome Powell, whose term as Fed Chair ends in May 2026. The other names said to be on the shortlist are Kevin Hassett (Director of the National Economic Council), Kevin Warsh (former Fed Governor), and Christopher Waller (current Fed Governor).
US Treasury Secretary Scott Bessent signaled the decision may be nearing. He said Rieder was the only candidate not yet interviewed (as of January 8) and that a final decision is expected this month—potentially announced before or after Trump’s visit to the World Economic Forum in Davos (January 19–23).
Rieder is a Senior Managing Director at BlackRock and leads the Fundamental Fixed Income platform and the Global Allocation team—roles that tie him closely to bond market dynamics and interest-rate trends. Warsh previously served as a Fed Governor from 2006 to 2011, while Waller’s current term as Governor runs through 2030.
The selection process is unfolding as concerns over the Fed’s independence intensify. Powell has said the Department of Justice has issued grand jury subpoenas and that potential criminal charges tied to his testimony on the Fed building renovation amount to sustained pressure aimed at pushing the central bank to cut rates.
Markets have reacted by increasing a “risk premium” against the US dollar, with the euro and Swiss franc strengthening as investors remain highly sensitive to US political headlines.
Fox Business also noted a procedural point: if Trump chooses a candidate who is not currently on the Fed’s Board of Governors, that person may need to fill a vacant board seat first before formally taking the top role.
Source: Newsmaker.id
