Rick Rieder, Senior Managing Director of Blackrock, Chief Investment Officer from Global Fix Income, spoke on September 28, 2023 at the Alpha Conference in New York City.
Adam Jeffery | CNBC
The search for the next chairman of the White House rotates and continues to rotate, with the head of Blackrock Bond, Rick Rieder, being the latest hot candidate.
Administrative sources provide CNBC that the Chief Investment Officer of Global Fixed Income's asset management giant on Friday with the finance minister Scott Bessent, to whom the Point Man was asked the Trump government for Jerome Powell's successor.
“Whoever is the Fed chair, there are so many innovative things,” said Rieder on Tuesday during a CNBC appearance.
The discussion with Rieder focused on monetary policy and structural questions related to the central bank. Bessent has publicly explained that he not only wants to see a new tour at the Fed, but also basic changes in the way it works.
Together with the Rieder interview, Bessent spoke to the former governors of Fed Kevin Warsh and Lawrence Lindsey as well as James Bullard, who worked as President of the St. Louis Fed.
Trump has given little evidence of his preference from a list that has been reported that 11 candidates, including past and current FED officers, Wall Street strategists and prominent economists, belong. Similar to Powell, Rieder would offer a departure from traditional central bank chiefs who have doctoral students in economics.
The Fed will meet next week, with the markets awaiting the first interest rate cuts in detail since December 2024. However, Trump has demanded major cuts because he damage higher interest rates for the housing market and increase the credit costs for the government.