BlackRock executive Rick Rieder has climbed the ranks to become President Trump’s Fed Chair pick to replace Jerome Powell once his term expires in May 2026, according to a Trump administration official. Rieder joined BlackRock in 2009 and spent 19 years at Lehman Brothers before that.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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%.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.