Trump to Interview Fed Chair Candidate Riedel This Week

Deep News01-13

On January 12 local time, it was reported that U.S. President Donald Trump will interview Rick Riedel, BlackRock's chief bond investment manager, for the position of Federal Reserve Chair on the 15th. Available information indicates that Riedel is one of the final candidates to succeed current Fed Chair Jerome Powell.

Powell was nominated for Fed Chair during Trump's first term in November 2017, assumed the role in 2018, and has remained in the position since. However, as Powell presided over a series of interest rate hikes after becoming Chair, Trump began publicly criticizing him and even discussed dismissing him as early as 2018. After being re-elected President last year, Trump has repeatedly attempted to influence the Fed's monetary policy decisions. Trump has publicly referred to Powell as "Mr. Too Late," criticizing him for acting too slowly to cut rates or for implementing insufficient reductions.

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