RICK RIEDER EMERGES AS TOP CONTENDER FOR FED CHAIR BlackRock executive Rick Rieder has surged as a leading candidate to replace Fed Chair Jay Powell, with his odds on Kalshi jumping from 3% to 37%. President Trump is expected to announce his pick soon and is widely seen as favoring a Wall Street–connected candidate. Rieder, BlackRock’s chief investment officer for global fixed income, has deep market experience, including two decades at Lehman Brothers. Meanwhile, former favorite Kevin Hassett has fallen out of favor amid concerns over Fed independence and a Justice Department probe involving Powell. BlackRock declined to comment, and the White House said speculation remains premature.(*Walter Bloomberg)