Trump Interviews BlackRock CIO for Fed Chair Vacancy
Overview
President Donald Trump is considering Rick Rieder, BlackRock's chief investment officer for global fixed income, for the Federal Reserve chairmanship. Rieder will be interviewed at the White House, marking the final candidate selection process to replace Jerome Powell when his term concludes. Rieder oversees approximately $2.4 trillion in assets at BlackRock and brings extensive experience from Lehman Brothers and advisory roles.
Trump Considers BlackRock CIO for Fed Chair Post
President Donald Trump is set to interview Rick Rieder, BlackRock's chief investment officer of global fixed income, as a potential candidate to lead the Federal Reserve. Sources confirmed the meeting is scheduled for Thursday at the White House, marking the final stage in selecting a successor for Federal Reserve Chairman Jerome Powell, whose term expires on May 15.
Rieder, a senior managing director at the world's largest asset manager, oversees roughly $2.4 trillion in assets. His responsibilities include heading fundamental fixed income and global allocation investment teams. He also holds influential positions on BlackRock's Global Executive Committee and its Investment Council, signaling his significant role within the firm.
Extensive Financial Background
Rieder's career spans decades in finance, including a long tenure at Lehman Brothers from 1987 to 2008. There, he held several leadership positions, including global head of credit businesses and head of the Global Principal Strategies team. His experience also includes advisory roles with entities such as the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board.
Furthermore, Rieder has contributed to U.S. financial policy, having served as Vice Chairman of the Borrowing Committee for the U.S. Treasury and as a member of the Federal Reserve's Investment Advisory Committee on Financial Markets. His academic credentials include an MBA from The Wharton School, University of Pennsylvania.
