Markets put BlackRock’s Rick Rieder ahead to replace Powell

Beincrypto reports prediction markets now favor BlackRock Chief Investment Officer Rick Rieder as President Donald Trump’s likely pick to replace Federal Reserve Chair Jerome Powell when Powell’s term ends in May.

Polymarket and Kalshi assign Rieder roughly a 45% chance, placing him ahead of Fed Governor Christopher Waller and former Fed official Kevin Warsh. In a CNBC interview at the World Economic Forum in Davos, Trump called Rieder “very impressive” and said, “I’d say we’re down to three, but we’re down to two. And I can probably tell you, we’re down to maybe one, in my mind.” Bloomberg noted Rieder has never worked at the Fed and has signaled a willingness to implement changes. Kevin Hassett, once a leading rumored choice, saw his Polymarket odds fall to about 8% after Trump signaled a preference to keep Hassett at the National Economic Council.

Trump has made clear he wants lower interest rates; lower rates typically raise liquidity and can boost risk assets such as Bitcoin and Ethereum. The report warns, however, that the conditions under which cuts occur matter and that repeated administration pressure on Fed independence has already prompted negative moves in bond markets and added volatility to crypto—factors that could worsen if pressure on a new Fed chair continues. It remains unknown who Trump will ultimately nominate.

Key Topics

Politics, Rick Rieder, Donald Trump, Jerome Powell, Kevin Hassett, Blackrock