BlackRock Inc. executive Rick Rieder is becoming a stronger candidate to serve as the next Federal Reserve chair when Jerome Powell’s term ends in May, according to a report from Bloomberg News, citing an administration official.
Treasury Secretary Scott Bessent held a two-hour meeting with Rieder on Friday in New York. Their discussion covered monetary policy, the Federal Reserve’s organizational structure, and regulatory policy, said the official, who asked not to be identified because the meeting was private.
Rieder, who oversees BlackRock’s fixed income business, is among the most senior executives at the firm.
The Treasury Secretary has now interviewed four of the 11 candidates publicly identified as under consideration for the top central bank position. The administration official emphasized that the selection process remains ongoing and noted that one or two additional names will likely be added to the candidate list.
