BlackRock executive Rick Rieder has risen in the rankings for the Federal Reserve chair selection and has publicly advocated for a 50 basis point rate cut

ChainCatcher news, according to market news, informed officials say that BlackRock's Global Fixed Income Chief Rick Rieder has recently been rising in the rankings among candidates for Federal Reserve Chair. U.S. Treasury Secretary Scott Bessent met with Rieder for about two hours in New York last Friday to discuss topics such as monetary policy, the Federal Reserve's organizational structure, and regulation; currently, 4 out of 11 public candidates have been interviewed, and the list may increase by 1-2 more, with the selection process still ongoing. Earlier, Rieder stated in an interview that based on his interpretation of economic indicators, the Federal Reserve "should cut rates by 50 basis points."