TechFlow, September 15 — According to Jinshi Data, a U.S. government official revealed that BlackRock executive Rick Rieder's ranking on the list of candidates for the next Federal Reserve chair has been steadily rising.
The official, who requested anonymity when discussing private meetings, said Treasury Secretary Besent conducted a two-hour wide-ranging interview with Rieder in New York last Friday, during which they discussed topics including monetary policy, the Fed’s organizational structure, and regulatory policies. The official emphasized that the selection process is ongoing, with Besent having interviewed four out of 11 publicly known candidates so far, and one or two additional candidates are expected to be added to the consideration list.
Sources familiar with the Treasury Secretary’s thinking said Besent was particularly impressed by Rieder’s extensive experience managing large teams in financial markets and his deep understanding of both micro- and macroeconomic dynamics. The source noted that if appointed, Rieder would bring a steady leadership style to the Fed along with profound insights into non-bank financial institutions. Earlier last week in a CNBC interview, Rieder stated that based on his reading of economic indicators, the Fed should cut interest rates by 50 basis points—twice the magnitude widely anticipated by markets ahead of this week’s FOMC meeting.
