Summary
- BlackRock's Rick Rieder, CIO is strengthening his position among the candidates for the next Fed chair.
- The CIO Rieder said he held broad discussions with the U.S. Treasury Secretary on monetary policy and regulatory policy.
- Rieder is said to be highly regarded for his experience in the fixed income business and his understanding of financial firms outside the banking system.
On the 12th (local time), Bloomberg reported that Rick Rieder, BlackRock's global head of fixed income and chief investment officer (CIO), is strengthening his position among the candidates for the next chair of the U.S. Federal Reserve (Fed) ahead of Jerome Powell's term expiration (May next year).
According to the outlet, at a private meeting held in New York last Friday, Scott Bessent, U.S. Treasury Secretary, and Rieder engaged in an extensive roughly two-hour discussion on monetary policy, the Fed's organizational structure, and regulatory policy.
Currently, Secretary Bessent has already interviewed 4 of the 11 publicly named candidates and plans to recommend 3–4 candidates for consideration to President Donald Trump this fall.
Rieder is said to have long built his career in the fixed income (fixed income) business and to possess a deep understanding of financial firms outside the banking system. Furthermore, his ability to assess the economy based on a forward-looking framework rather than past data is highly valued.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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