Trump Eyes BlackRock’s Rick Rieder for Fed Chair: A Crypto-Friendly Pick?

Wall Street meets the White House—again. Former President Donald Trump is reportedly interviewing BlackRock's Rick Rieder for the top job at the Federal Reserve. The move signals a potential tectonic shift in monetary policy, with implications that could ripple from traditional bonds straight into the digital asset ecosystem.

Why This Matters for Crypto

Rieder isn't just another suit from a mega-fund. As BlackRock's Chief Investment Officer of Global Fixed Income, he's been a vocal advocate for modernizing finance. While not a crypto evangelist, his public stance has been one of pragmatic engagement—recognizing digital assets as a legitimate, growing asset class. His leadership at the Fed could mean a regulatory environment that favors innovation over obstruction, a stark contrast to the adversarial posture of some past chairs.

The Policy Pivot

Imagine a Fed that views blockchain efficiency as a feature, not a bug. Under a Rieder-led Fed, the glacial pace of financial infrastructure upgrades could finally get a tech injection. The focus might shift toward frameworks that protect consumers without strangling the developers building the next financial layer. It's the difference between building a guardrail and planting a wall.

The Bigger Picture: A Bullish Signal?

For crypto markets, perception is often reality. The appointment of a figure from the world's largest asset manager—a firm that has embraced Bitcoin ETFs—to the most powerful financial office on the planet would be read as a monumental legitimization event. It tells institutional capital that digital assets are not just here to stay but are being integrated into the very core of global finance. Expect volatility, but with a long-term trajectory that looks decidedly north.

Of course, this is politics—where the only certainty is a consultant getting paid. But if it happens, the message is clear: the old guard is changing. The future of money won't be debated in ivory towers; it'll be built on-chain, and even the Fed might just need a wallet. After all, what's a central bank in the 21st century if it can't keep up with a decentralized ledger?

Per a Fox Business report, BlackRock’s chief investment officer of global fixed income will be interviewed this Thursday. He will interview with Trump himself, chief of staff Susie Wiles, Treasury Secretary Scott Bessent, and deputy chief of staff Dan Scavino. This will be the fourth and last interview with a candidate to replace Federal Reserve Chairman Jerome Powell, the sources told Fox. The list of finalists includes former Federal Reserve Board Governor Kevin Warsh, National Economic Council Director Kevin Hassett, Federal Reserve Board Governor Christopher Waller, and now BlackRock’s Rieder.

Current Fed Chair in Hot Water

With his chair position set to end on May 15, Jerome Powell is also in hot water once again due to a probe opened by the Department of Justice. The Jerome Powell investigation was made public on Sunday, with the chair of the Fed confirming that the Department of Justice issued grand jury subpoenas on Friday. The reaction of Powell was a shock, as he connected the investigation conducted by the Federal Reserve to continuous political pressure on Fed authorities regarding interest rates.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said Sunday. He also added: “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.”

It’s no secret that Trump and Fed Chair Powell have been at odds since his return to the WHITE House. The Fed has been slow to lower interest rates due to economic concerns and a long battle against inflation. Trump, meanwhile, has pushed and even threatened the Fed on numerous occasions to lower the rates. He has publicly called out Powell and threatened to try to fire him numerous times. Meanwhile, the BlackRock CIO Rieder has called for the Federal Reserve to lower interest rates to 3%. Now, with his position being freed up in May, Powell may not even keep his Governor’s role on the Fed Board once his time as Fed Chair expires.