Rick Rieder, a leading candidate for Federal Reserve Chair, manages $2.4 trillion in assets at BlackRock and is considered the most knowledgeable person about the U.S. bond market.

BlockBeats News, January 28, according to Fortune, in the past two weeks, Rick Rieder's probability of becoming the next Federal Reserve Chairman on Polymarket has rapidly soared to nearly 50%, significantly ahead of second place Kevin Warsh (29%) and third place Christopher Waller (6%). Rieder's career has been almost entirely on the front lines of the global bond market. As a trader and asset manager, he has long participated in the market, interpreted, and profited from central bank policy signals. Simply put, no one understands the bond market better than Rick Rieder. In Trump's policy decisions, nothing is more important than whether the "bond market rises or falls."

Currently, Rieder is in charge of BlackRock's global fixed income business, managing as much as $2.4 trillion, which accounts for about one-sixth of the $14 trillion in assets under management at the world's largest asset management company. A former CEO who worked with Rieder described him as "extremely personable" and said Rieder "has a deep understanding of how markets work and is able to maintain independent judgment."

If Rieder takes over as Federal Reserve Chairman in May, he will face extremely severe challenges. His stance on the federal funds rate has long been clear and is closer to the Trump camp. In a January 12 interview with CNBC, Rieder said: "The Fed needs to bring rates down to 3% (currently 3.50%–3.75%), and I think that's closer to an equilibrium level." The problem is that the Fed is currently implementing two policies that could push inflation higher. In mid-December last year, the central bank reversed its previous quantitative tightening (QT) policy. In addition, the Fed is also reducing the amount of reserves that banks must hold at the central bank.