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Exclusive: BlackRock executive Rick Rieder discussed several key issues, including the profitability of the Federal Reserve, during an interview for the top job at the central bank, senior administration sources told FOX Business.
Other topics discussed during the meeting with Rieder, the chief investment officer of global fixed income at BlackRock, included the importance of monetary policy stability and U.S. debt dynamics, the sources said.
The interview was conducted in the Oval Office and included President Donald Trump, Vice President JD Vance, Treasury Secretary Scott Bessent, chief of staff Susie Wiles and deputy chief of staff Dan Scavino.
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Rieder stands as the only candidate interviewed on the final list who has no Federal Reserve or government experience. People in the room viewed that as a big positive, the sources said.
Now, in addition to Rieder, the list of finalists includes former Federal Reserve Board Governor Kevin Warsh, National Economic Council Director Kevin Hassett and Federal Reserve Board Governor Christopher Waller.
The interview with Rieder is the last before the president makes his final decision. Fed Chairman Jerome Powell’s term as head of the central bank ends on May 15. He was nominated by Trump to lead the Fed in 2017 and confirmed in 2018.
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The process was led by the treasury secretary – Bessent started with 10 names from a wide range of backgrounds and whittled down the prospective successors into the final list. Trump then took the time to get to know each candidate on the final list.
He is expected to make a decision by the end of January.
If the president picks someone not currently on the Federal Reserve Board of Governors, that person will have to fill an open seat.
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Fed Governor Stephen Miran’s term expires Jan. 31, which would give the president the opening he needs. Miran was sworn in to the role in September, filling the seat vacated by Adriana Kugler after her resignation. He has frequently called for more aggressive interest rate cuts.
“I think policy is clearly restrictive and holding the economy back,” Miran said during an interview on FOX Business’ “Mornings with Maria” last week. “I think that well over 100 basis points of cuts are going to be justified this year,” he said.
If Trump selects Waller, then the president could put another person in the seat when it opens.
