Source: BlackRock executives continue to rise in Fed chair interview

According to a US government official, BlackRock Group executive Rick Rieder continues to rise on the list of successors to the Federal Reserve Chairman. The official, who asked to discuss the private meeting anonymously, said U.S. Treasury Secretary Becent had an extensive two-hour interview with Reed in New York last Friday, and the two sides discussed issues such as monetary policy, the Fed's organizational structure and regulatory policy. The official stressed that the selection process is still in progress, with Becent having interviewed 4 of the 11 public candidates so far, and one to two new candidates are expected to be added to the consideration list. Sources familiar with the finance minister’s idea revealed that Becente was impressed by Reed’s extensive experience in managing large teams in financial markets and his deep understanding of micro and macroeconomics. The person said that if Reed takes charge of the Federal Reserve, he will bring the Federal Reserve a calm style of acting and a deep understanding of non-bank financial institutions. Reed said in an interview with CNBC earlier last week that based on his interpretation of economic indicators, he believes the Fed should cut interest rates by 50 basis points—which is twice the extent of the general market expects the announcement of the FOMC meeting this week.