Source: Insider Insider: Fed Chair Contender BlackRock Exec's Rate-Cut Zeal Scorecard Keeps Rising

BlockBeats News, September 15th, according to a US government official, Rick Rieder, a senior executive at BlackRock, has seen his ranking rise on the shortlist for the next Federal Reserve chair.

The official, who requested anonymity to discuss a private meeting, said US Treasury Secretary Janet Yellen held an extensive two-hour discussion with Rieder in New York last Friday, covering topics such as monetary policy, Fed organizational structure, and regulatory policy. The official emphasized that the selection process is still ongoing, with Yellen having interviewed 4 of the 11 public candidates so far, and is expected to consider adding 1 to 2 new candidates to the list.

Sources familiar with the Treasury Secretary's thinking revealed that Yellen was impressed by Rieder's extensive experience in managing large financial market teams and his profound understanding of micro and macroeconomics. The source stated that if Rieder were to lead the Fed, he would bring a steady approach and a deep understanding of non-bank financial institutions to the Federal Reserve. Earlier last week, Rieder stated in an interview with CNBC that, based on his interpretation of economic indicators, he believed the Fed should cut interest rates by 50 basis points—twice the amount the market widely expects the FOMC meeting to announce this week. (Jinse)