BlackRock's CIO performs "very well" as Treasury secretary concludes interview for next Fed chair
2025-10-09 04:19:48
The Financial Times reported that US Treasury Secretary Vincent Bescent had concluded a long-list interview for 11 candidates to chair the Federal Reserve on Tuesday, according to several people familiar with the matter. Mr. Trump is seeking to replace current chairperson Jerome Powell. The candidates were said to have been personally "grilled" by Mr. Bescent, Treasury official Hunter McMaster and adviser Francis Browne during the two-hour interview. Some of those interviewed said Mr. Bescent had asked them for their views on the ideas he made in a recent article calling for an overhaul of the Fed and criticising its quantitative easing programme as an "experiment in functionally acquired monetary policy". Rick Rieder, BlackRock's global fixed income chief investment officer, did "very well", according to one person familiar with the matter. Mr. Bescent, who has been tight-lipped about the whole process, said in a recent interview with Fox Business that he wanted to find someone who was "open-minded" and "forward-looking."
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