BlackRock Executive Confirms Meeting with Trump to Discuss Fed Chair Role

Summary

BlackRock’s Senior Managing Director, Rick Rieder, has confirmed reports that he met with President Trump to discuss the role of Federal Reserve Chair.Zhitong This comes as Trump continues his search for a successor to current Chair Jerome Powell, whose term ends in May 2026.etnet Trump has been openly critical of Powell, threatening to sue or dismiss him for not cutting interest rates aggressively enough and for alleged mismanagement.Finet HK+ 2 Trump has stated he has already decided on a candidate and wants a new Chair who will lower rates to boost the economy and stock market, with an announcement expected in January.Wallstreetcn+ 3

Impact Analysis

So Rieder from BlackRock confirming his meeting with Trump is the clearest signal yet.Zhitong This isn’t just about finding a Powell replacement; it’s about fundamentally changing the Fed’s reaction function. Trump has been explicit: he wants rate cuts to boost the market, even if the economy is strong.Yahoo Asia+ 2 He’s not being subtle, calling Powell ‘incompetent’ and threatening to sue him.Finet HK+ 2

Bringing in a market titan like Rieder, instead of a pure academic, is a savvy move. It lends market credibility to his quest for a dovish pivot. The market will likely cheer the prospect of lower rates in the short term, but this is a major assault on Fed independence that even the ECB is flagging as a concern.Sina Finance The long-term risk is institutional decay and higher inflation volatility. This reinforces the long gold thesis as a hedge against policy error and fiat debasement, and it keeps us constructive on long-duration equities.