Rick Rieder, BlackRock’s senior managing director, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023.
Adam Jeffery | CNBC
BlackRock fixed income chief Rick Rieder’s star is rising as a potential Federal Reserve chair following flattering remarks Wednesday from President Donald Trump.
In a CNBC interview, Trump called Rieder “very impressive” following a recent meeting between the two. Rieder is one of a few finalists in the race to see who will succeed current Chair Jerome Powell when his term expires in May.
Trump also indicated that he is near a decision, with a candidate field that began at 11 now whittled “down to maybe one,” the president said during the interview from the World Economic Forum in Davos, Switzerland.
Following his comments, traders on the Kalshi predictions market raised the odds for Rieder getting the nomination to 33%, about double where they were at the beginning of the week. Rieder did not immediately respond to a request for comment.
Former Fed Governor Kevin Warsh continues to hold the lead at 45%, but that’s down about 14 points from Monday.
Treasury Secretary Scott Bessent, who has led the candidate screening, told CNBC earlier this week that he expects Trump will announce a decision next week.
— Disclosure: CNBC and Kalshi have a commercial relationship.