- President Donald Trump will interview BlackRock executive Rick Rieder this Thursday as a finalist for Federal Reserve chair.
- Rick Rieder joins former Fed governor Kevin Warsh, NEC director Kevin Hassett, and Fed governor Christopher Waller as the four finalists.
- The Fed chair seat occupied by Jerome Powell becomes open on May 15; Trump said he will pick a nominee in January.
- JUST IN: 🇺🇸 BlackRock CIO Rick Rieder calls for the Federal Reserve to lower interest rates to 3%.
- Jerome Powell is under a Department of Justice probe; he warned the investigation risks political pressure on Fed policymaking.
President Donald Trump will interview Rick Rieder, BlackRock’s chief investment officer of global fixed income, this Thursday as one of four finalists to replace Federal Reserve Chair Jerome Powell, whose term ends on May 15, and Trump said he will make his selection in January. The meeting will include senior White House aides and officials.
The other finalists named are former Federal Reserve Board governor Kevin Warsh, National Economic Council director Kevin Hassett, and Federal Reserve Board governor Christopher Waller. The session with Rieder is reported to include President Trump, chief of staff Susie Wiles, Treasury Secretary Scott Bessent, and deputy chief of staff Dan Scavino.
Rieder has publicly urged lower interest rates; a related social media post stated, JUST IN: 🇺🇸 BlackRock CIO Rick Rieder calls for the Federal Reserve to lower interest rates to 3%. Mr. Trump has repeatedly pushed for faster rate cuts and has publicly criticized and threatened to remove Powell over Fed policy.
Jerome Powell disclosed that the Department of Justice issued grand jury subpoenas as part of a probe. He said the subpoenas reflect mounting political pressure on the Fed and warned of consequences, stating, “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” and “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.”
It remains unclear whether Powell will continue to serve on the Fed Board after his chair term ends. The interviews mark the final round of candidate meetings ahead of the expected vacancy in May.
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