In a CNBC interview, Trump called Rieder “very impressive” following a recent meeting between the two.
- Traders on the Kalshi predictions market raised the odds for Reider getting the nomination to 35%, about double where they were at the beginning of the week.
- Polymarket users think there is a 33.1% chance of Reider getting the nomination
- Rieder is among the few finalists in the race to succeed current Chair Jerome Powell when his term expires in May.
BlackRock fixed income head Rick Rieder’s odds of becoming the next Fed chair soared on Thursday after U.S. President Donald Trump praised Reider during an interview.
In a CNBC interview, Trump called Rieder “very impressive” following a recent meeting between the two. Rieder is among the few finalists in the race to succeed current Chair Jerome Powell when his term expires in May.
What’s Bettors Saying?
Following his comments, traders on the Kalshi predictions market raised the odds for Rieder getting the nomination to 35%, about double where they were at the beginning of the week.
Polymarket users think there is a 33.1% chance of Rieder getting the nomination. 60% of Polymarket users think that there will be no announcement from Trump on the next Fed chair nominee till Jan. 31. 97% predict the announcement to come by March 31.
Accumulative bets from users on both the platforms was $292.6 million at the time of writing.
White House National Economic Advisor Kevin Hassett, ex-Fed official Kevin Warsh, Fed Governor Christopher Waller, and BlackRock’s Rick Rieder are the four candidates for the Fed Chair position.
Fed Search Is Almost Over
Donald Trump on Wednesday had indicated that his search for a new Federal Reserve chair is nearly over.
“I’d say we’re down to three, but we’re down to two. And I probably can tell you, we’re down to maybe one, in my mind,” he had said in an interview to CNBC.
Donald Trump has been interviewing candidates to replace current Fed chair Jerome Powell for the last few months. Former Fed Governor Kevin Warsh, current Governor Christopher Waller, National Economic Council chief Kevin Hassett are widely touted to be the two front-runners to take the job.
Treasury Secretary Scott Bessent reportedly stated on Tuesday that he expects President Donald Trump to announce his Federal Reserve Chair pick by next week.
U.S. equities continued their gain on Thursday after closing higher on Wednesday. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up by 0.7%, the Invesco QQQ Trust ETF (QQQ) was higher by 0.8%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.9%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.
