- The neutral rate pitch
- A long-time Bitcoin supporter
The race to replace Jerome Powell as Chairman of the Federal Reserve has taken a sharp turn toward Wall Street’s most powerful asset manager.
Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income, has seen his odds of securing the nomination surge in recent days
According to data from prediction market Polymarket, Rieder’s odds of being nominated have jumped from single digits earlier this month to 32% as of Thursday
He is now the second-leading contender, closing the gap with former Fed Governor Kevin Warsh, who leads the pack at roughly 44%.
The sudden repricing follows reports from Bloomberg and other outlets that Rieder had a Thursday meeting at the Oval Office.
The neutral rate pitch
Chair Jerome Powell has maintained a “higher for longer” stance to crush the last remnants of inflation. However, Rieder has been publicly advocating for a pivot.
He has argued that the “neutral” rate is closer to 3%. The current Fed funds rate sits significantly higher (in the 3.5%–3.75% range after December cuts).
Rieder has also expressed an “atypical” tolerance for U.S. deficits, arguing that global demand for U.S. assets remains robust enough to absorb the supply.
He has also echoed Treasury Secretary Scott Bessent’s call for the Fed to use its balance sheet more “creatively,” meaning that the Fed would be willing to provide liquidity to strategic sectors of the economy.
A long-time Bitcoin supporter
Back in 2021, as reported by U.Today, Rieder described Bitcoin as “interesting” and, most importantly, “durable.” He predicted that the flagship cryptocurrency would be part of the investment landscape for years to come
Fast forward to 2026, and Rieder’s prediction appears prescient. BlackRock is, of course, is also the biggest player on the cryptocurrency ETF scene. IBIT alone boasts a staggering $70 billion in assets under management
Alexander Grieve, vice president of government affairs at cryptocurrency investment firm Paradigm, has quipped that BlacRock is now taking over both Bitcoin and the Fed
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Is Bitcoin mispricing a prolonged Iran war? Ex-hedge fund manager weighs in
James Lavish warns Bitcoin holders that continued conflict in Iran could trigger inflation and market downturns. While Bitcoin may face further declines, he sees potential long-term opportunities. He discusses the impact of global economic pressures on investments.
Cointelegraph48m ago
Bitcoin Holds Steady Near $67K Amid Bullish and Geopolitical Tension
This weekend, Bitcoin ($BTC) has shown a steady performance in line with a blend of technical and geopolitical outlook. In this respect, Bitcoin ($BTC) is changing hands at $67K with significant support levels at $64K and $65K and notable resistance at $74K. As per the data from CRYPTO Damus, the
BlockChainReporter1h ago
Metaplanet Responds to JPX Regulatory Update Consultation: It Does Not Affect the Advancement of Its Bitcoin Strategy, With More Than 216,000 Japanese Shareholders Already Participating
Metaplanet CEO Simon Gerovich said he respects the decision by a Japanese exchange to delay the inclusion of cryptocurrency companies, and emphasized that the company will continue to pursue its Bitcoin strategy. Through the “Project Nova” project, it will help develop Japan’s Bitcoin ecosystem; it has already attracted more than 216k shareholders and will continue to communicate with all parties.
GateNews2h ago
