Trump Considers BlackRock’s Rick Rieder as Potential Successor to Powell at the Fed

Speculation is once again swirling in Washington over who might take the helm of the Federal Reserve when current Chair Jerome Powell finishes his term next year. A new name has entered the mix – Rick Rieder, BlackRock’s Chief Investment Officer for Global Fixed Income, and a well-known advocate for cutting interest rates.

One of Eleven Candidates According to CNBC, Rieder is among eleven names under consideration by Trump’s team. Joining him on the list are David Zervos, Chief Market Strategist at Jefferies, and Larry Lindsey, former Fed Governor. Other confirmed candidates include Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Chris Waller, and Fed Vice Chair Philip Jefferson. Also in the running are Marc Summerlin, Dallas Fed President Lorie Logan, and former St. Louis Fed President James Bullard. Trump has also revealed that “two Kevins” – Kevin Warsh and Kevin Hassett – are on the shortlist.

Selection Led by Treasury Secretary Treasury Secretary Scott Bessent is overseeing the selection process and will personally interview all candidates before preparing a shortlist for the President’s final decision. Notably, several candidates have openly supported rate cuts – precisely the policy Trump has been pushing for. Waller and Bowman already voted for a cut at the July FOMC meeting, while Rieder called for such a move even before the session took place.

Timeline and Political Context The selection process is expected to take some time, meaning an announcement of the next Fed Chair is unlikely in the near term. This rules out the creation of a so-called “shadow Fed.” However, Trump has continued his sharp criticism of Powell and has even suggested that he is considering legal action against him.

Chris Waller Remains the Favorite According to data from Polymarket, Chris Waller remains the frontrunner to succeed Powell, with current odds at 27.5%. This aligns with earlier reports that Trump’s team favors Waller for his willingness to shape monetary policy based on forecasts rather than just current economic data – a clear contrast to Powell’s cautious “wait and see” approach.

Meanwhile, Kevin Warsh and Kevin Hassett hold odds of 10.8% and 10.7%, respectively. The highest probability, however, is still that Trump will delay his decision until 2026 – with a 36% chance that no announcement will be made before the end of this year.

#DonaldTrump , #blackRock , #FederalReserve , #JeromePowell , #USPolitics

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