White House Announces Trump Will Decide On Fed Chair Within Couple Of Weeks
The White House has announced that President Trump will make his Federal Reserve Chairman decision within the next couple of weeks, representing an accelerated timeline from the previous shortlist phase. Rick Rieder, BlackRock's CIO overseeing $2.40 trillion in assets, remains a key candidate with extensive financial policy experience and scheduled White House interview.
*this image is generated using AI for illustrative purposes only.
The White House has announced that US President Donald Trump will make his decision on the Federal Reserve Chairman role within the next couple of weeks, marking an accelerated timeline for the crucial appointment. This development comes as Trump continues his selection process to replace Federal Reserve Chairman Jerome Powell, whose term as chairman concludes on May 15.
Updated Decision Timeline
The latest White House announcement represents a significant narrowing of the decision timeframe, moving from the previous confirmation that Trump had developed a shortlist of favored candidates to a specific timeline for the final selection.
| Timeline Update | Details |
|---|---|
| Decision Timeframe | Within next couple of weeks |
| Current Status | Final decision phase |
| Powell's Term End | May 15 |
| Selection Process | Shortlist already identified |
Key Candidate Under Consideration
Among the candidates under consideration is Rick Rieder, BlackRock's chief investment officer of global fixed income, who was scheduled for an interview on January 15 at the White House. When asked about the potential meeting on CNBC, Rieder neither confirmed nor denied the interview, stating that the press stories "seem reasonably accurate."
| Candidate Profile | Details |
|---|---|
| Name | Rick Rieder |
| Current Position | BlackRock CIO of Global Fixed Income |
| Assets Under Management | $2.40 trillion |
| Interview Status | White House meeting scheduled |
Rick Rieder's Qualifications
Rick Rieder holds multiple senior positions at BlackRock, serving as Senior Managing Director, Chief Investment Officer of Global Fixed Income, head of the Fundamental Fixed Income business, and head of the Global Allocation Investment Team. His responsibilities encompass overseeing approximately $2.40 trillion in assets under management.
Rieder sits on BlackRock's Global Executive Committee and its GEC Investment Sub-Committee, while also serving as Chairman of the firm-wide BlackRock Investment Council. Beyond BlackRock, he holds advisory positions on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board.
Professional Background
Before joining BlackRock in 2009, Rieder served as President and CEO of R3 Capital Partners. His most significant tenure was at Lehman Brothers from 1987 to 2008, where he held several key leadership positions including leading the Global Principal Strategies team and serving as global head of credit businesses.
| Career Timeline | Position | Organization |
|---|---|---|
| 1987-2008 | Global Head of Credit Businesses | Lehman Brothers |
| 2008-2009 | President and CEO | R3 Capital Partners |
| 2009-Present | Senior Managing Director | BlackRock |
Rieder has contributed to US financial policy through various government roles, including serving as Vice Chairman and member of the Borrowing Committee for the US Treasury and as a member of the Federal Reserve's Investment Advisory Committee on Financial Markets. This experience provides him with direct exposure to federal monetary policy and central banking operations.
20
