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Trump plans to interview BlackRock CIO Rick Rieder as the Fed chair shortlist narrows to four candidates

Interest rate cuts remain central, with Trump favoring nominees aligned with immediate easing policies

Polymarket odds show Hassett leading, while Rieder gains attention ahead of his pending interview

Cryptoprowl / U.S. President Donald Trump is moving closer to naming his next Federal Reserve chair, with BlackRock (NYSE: $BLK ) executive Rick Rieder set to be interviewed as the shortlist narrows to four candidates. The interview, expected in the final week of the year, comes with an accelerated review process as the administration weighs its options ahead of a formal nomination.

According to a CNBC report, Trump plans to interview Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, making him the last remaining candidate on the president's shortlist who has not yet been formally interviewed. The field now includes Rieder, former White House economic adviser Kevin Hassett, former Federal Reserve Governor Kevin Warsh, and current Fed Governor Chris Waller.

Reports indicate that Fed Governor Michelle Bowman is no longer under consideration to replace current Chair Jerome Powell. Powell's term is scheduled to end in May 2026, though Trump has said he intends to announce his nominee earlier, potentially in early 2026.

Prior Interviews and Policy Focus

Rieder's upcoming interview follows Trump's recent meeting with Chris Waller. Senior administration officials told CNBC that the discussion was viewed internally as a "strong interview," with a particular focus on labor market conditions.

Interest rate policy has emerged as a central issue in the selection process. Trump has publicly stated that support for immediate interest rate cuts will be a key requirement for his nominee. In addition, Hassett has recently noted that additional cuts would be appropriate at present.

Waller indicated that labor market data supports further easing, while also stating that there is no urgency. Trump has said that Warsh largely agrees with his views on interest rates. Rieder previously expressed support for rate cuts earlier in the year, though he has not made recent public comments clarifying his current position.

Betting Markets Reflect Shifts in Expectations

Activity on prediction markets has increased as the interview process advances. Data from Polymarket shows that traders have raised their bets on Rieder ahead of his meeting with Trump, assigning him a 6.5% chance of being nominated as the next Fed chair.

Kevin Hassett currently leads the field on Polymarket with a 56% probability. Kevin Warsh follows with a 21% chance, while Chris Waller stands at 14%. Earlier in the week, Warsh overtook Hassett as the frontrunner before slipping back, with reports that some advisers raised concerns about Hassett's close ties to the president.

However, Trump has stated he expects to announce his choice for Federal Reserve chair in the coming months. While the selection process is ongoing, the administration has stated that interviews and evaluations are continuing as it narrows its final decision.