BlackRock executive Rick Rieder has emerged as a leading contender in the race for Federal Reserve chair as Donald Trump’s decision on who to nominate to lead the world’s most important central bank looms.
Rieder’s odds on the prediction site Polymarket have surged from 6 per cent earlier this week to 47 per cent by Friday afternoon, on bets the US president will back a candidate with close links to Wall Street to replace Jay Powell when his term as chair ends in May.
The abrupt jump places Rieder in the top position on Polymarket.
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