Rieder odds rising for Fed chair after Trump calls BlackRock executive ‘very impressive’

BlackRock’s fixed income chief, Rick Rieder, is gaining attention as a potential candidate for the Federal Reserve chair position, with President Donald Trump expressing admiration for him in a recent CNBC interview. Trump described Rieder as “very impressive” after their meeting, indicating that he is a top contender to succeed current Chair Jerome Powell when his term ends in May.

During the interview at the World Economic Forum in Davos, Switzerland, Trump mentioned that the candidate field has been narrowed down to possibly one individual, hinting at an imminent decision. Rieder’s chances on the Kalshi predictions market have surged to 33%, doubling from earlier in the week, although former Fed Governor Kevin Warsh still leads at 45%, albeit with a slight decline.

Treasury Secretary Scott Bessent, responsible for vetting candidates, anticipates that Trump will announce his decision in the coming week. Rieder has not yet commented on the speculation surrounding his potential nomination.

It remains to be seen who will ultimately be chosen as the next Federal Reserve chair, but Rieder’s growing momentum in the race highlights his strong credentials and the confidence placed in him by key figures in the financial and political spheres. Stay tuned for further updates on this developing story.

—Disclosure: CNBC and Kalshi have a commercial relationship.