Blackrock’s Rick Rieder has evidently made the lengthy record of Fed candidates and he impressed Scott Bessent, based on a Bloomberg report.
I do not suppose it is any shock that Rieder mentioned the Fed ‘ought to’ minimize by 50 foundation factors on the upcoming assembly and possibly that is why he received the interview (or the reward). The interview was this morning and ‘lasted for 2 hours’, based on the report.
That mentioned, Rieder is actually credible. He is a great, considerate man and of all of the names floated for Fed Chair up to now, I feel he would instill probably the most confidence within the bond market. When you’ve ever heard him on TV, he is an important communicator and a straight shooter; actually not a politician.
Bessent mentioned he’ll interview all of the contenders and provide Trump a short-list of three to 4 to contemplate later this fall. Let’s residence Rieder is on the record.
