BlackRock executive Rick Reed has emerged as a leading candidate for Fed Chair.

[BlackRock executive Rick Reed emerges as a top candidate for Fed chair] According to a U.S. government official, BlackRock executive Rick Reed's ranking has risen among the list of contenders for the Fed chair. The official stated that during a two-hour extensive discussion held in New York on Friday, U.S. Treasury Secretary Basant engaged in in-depth exchanges with Reed on topics such as monetary policy, Fed organizational structure, and regulatory policies. So far, Basant has interviewed four of the eleven candidates publicly believed to be under consideration and emphasized that the selection process is still ongoing. It is likely that one or two more candidates will be added to this list. Reed is one of BlackRock's most senior executives, responsible for managing the company's fixed income business. Reports indicate that Basant was impressed by Reed's experience in leading large teams in the financial markets over the long term, as well as his profound understanding of the micro and macro factors affecting the economy. If Reed were to become the Fed chair, he would bring a calm style along with a deep understanding of financial institutions outside the banking system. Additionally, Basant particularly appreciates Reed's ability to use a forward-looking framework to assess economic trends rather than merely relying on lagging historical data.