Trump to speak with BlackRock’s Rick Rieder about Fed chair role

Trump to Meet with BlackRock Executive Over Fed Chairman Position

President Donald Trump is set to sit down this week with Rick Rieder, who is the chief investment officer for global fixed income at BlackRock, as part of discussions about potentially appointing a new chairman for the Federal Reserve, according to administration insiders.

This meeting is slated for Thursday at the White House and will include key figures such as Chief of Staff Susie Wiles, Treasury Secretary Scott Bessent, and Deputy Chief of Staff Dan Scavino.

It marks the fourth and final meeting with candidates to succeed Jerome Powell, the current Federal Reserve Chairman whose term expires on May 15. Powell was nominated by Trump in 2017 and confirmed in 2018.

Powell Not Reviewing Successors

Beyond Rieder, the list of potential nominees also features former Federal Reserve President Kevin Warsh, National Economic Council Director Kevin Hassett, and Federal Reserve Board Director Christopher Waller.

Trump has indicated a decision will be made in January. If he decides on a candidate outside the current Federal Reserve Board, that nominee will need to fill an existing vacancy.

Opportunities for New Appointments

The term of Fed Director Stephen Millan ends on January 31, providing the President with additional opportunities for appointments. Millan, inaugurated in September, took over a position left vacant by Adriana Coogler’s resignation and has regularly pushed for more aggressive interest rate cuts.

In a recent interview, Millan expressed concerns about existing policies, stating, “I think the policies are definitely restrictive and suppressing the economy. A rate cut of well over 100 basis points is warranted this year.”