Rick Rieder, BlackRock CIO, emerges as a leading contender for next Fed chair

JH Kim

Summary

It said that on prediction market Kalshi, Rick Rieder’s odds of being nominated as Fed chair jumped from 3% to 37%.
It said Rieder is emerging as a leading contender amid speculation that US President Donald Trump will favor a Wall Street figure.
It said Kevin Hassett, previously seen as a top contender, has lost ground due to concerns about undermining the Fed’s independence and a Justice Department probe issue related to Jerome Powell.

Rick Rieder, BlackRock’s global chief investment officer (CIO) for fixed income, is rapidly emerging as a leading candidate to become the next chair of the US Federal Reserve (Fed).

According to Walter Bloomberg, an economy breaking-news account, Rieder’s odds of being nominated as Fed chair on prediction market Kalshi have recently surged from 3% to 37%.

With expectations that US President Donald Trump will announce a candidate for the next Fed chair soon, speculation is gaining traction that he will favor someone with a Wall Street background.

Rieder oversees BlackRock’s global fixed-income business and is seen as a seasoned market veteran, having spent about 20 years at Lehman Brothers, among other roles.

By contrast, Kevin Hassett—long cited as a top contender—has reportedly seen his position weakened amid concerns about undermining the Fed’s independence and issues surrounding a Justice Department probe related to current Chair Jerome Powell.

BlackRock declined to comment on the matter, and the White House said it remains “still at the speculation stage.”