BlackRock’s Rick Rieder Bid for Fed Chair Is Gaining Traction

The candidacy of BlackRock’s Rick Rieder to be the next Federal Reserve chair has gained late momentum, people familiar with the matter say, as President Donald Trump weighs congressional blowback in his bid to put a friendlier face at the head of the central bank.

Trump’s interview Thursday with Rieder went well, the people said, speaking on condition of anonymity to discuss the private deliberations.

Rick Rieder

Photographer: Richard Drew/AP Photo

Key senators such as Republican Banking Committee member Thom Tillis have warned that Trump’s Fed picks will get more scrutiny after the Justice Department subpoenaed the Fed last week over statements by Chair Jerome ...