Rick Rieder, a senior executive at BlackRock Inc., has emerged as a likely candidate to take over the position after Fed Chair Jerome Powell's term expires in May. Treasury Secretary Scott Bessent held a two-hour meeting with Rieder in New York yesterday, according to an official familiar with the matter. The meeting focused on monetary policy, the Fed's institutional structure, and regulatory policies. Bessent has reportedly met with four of the 11 candidates publicly mentioned so far, and the process is ongoing. It's also being reported that one or two more names may be added to the list. Rieder heads BlackRock's fixed-income securities division. He joined the firm in 2009 and previously spent nearly 20 years at Lehman Brothers. BlackRock declined to comment. Related News: Billionaire Bitcoin Bulls Winklevoss Twins Reveal 10-Year Price Forecast for Bitcoin Treasury Secretary Bessent is reportedly impressed by Rieder's long career in markets, his experience managing large groups, and his deep understanding of the micro and macroeconomic factors. It was noted that Rieder would be able to take office with a calm approach and extensive knowledge of non-bank financial institutions. President Donald Trump, however, is known to have nicknamed Powell “Too Late,” believing he was too slow to act on economic data. Trump is reportedly considering Christopher Waller, Kevin Warsh, and Kevin Hassett as leading candidates for the Fed Chair position. Bessent is expected to meet with all candidates on Trump's behalf and present a shortlist of three to four names to the President in the fall. Bitcoin should be included in portfolios alongside gold, but allocations depend on each investor's risk profile, Rick Rieder, BlackRock's Director of Global Fixed Income Investments, said on CNBC on Tuesday. *This is not investment advice. Continue Reading: The Most Likely Candidate to Become Fed Chair Has Changed – He Spoke About Bitcoin Three Days Ago
