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BlackRock Executive Rick Rieder Reportedly Front-runner as Next Fed Chair
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BlackRock (BLK.US) executive Rick Rieder has emerged as the front-runner to succeed Jerome Powell as the next Federal Reserve Chair, Bloomberg reported, citing U.S. government officials. US Treasury Secretary Scott Bessent held a two-hour meeting with Rieder last Friday (12th) in New York, discussing topics such as monetary policy, the organizational structure of the Fed, and regulatory policies. Bessent reportedly met with 4 of the 11 publicly listed candidates for the Fed Chair position, and the selection process is still ongoing; the list is expected to add one or two more candidates. Bessent was impressed by Rieder's experience in managing large teams, his micro and macroeconomic perspectives, and appreciated Rieder's use of a forward-looking analytical framework in assessing economic conditions, rather than relying solely on past data. AASTOCKS Financial News Website: www.aastocks.com |
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