The “lord” is Christ, the “household” over which He appoints is the Church Catholic. It is hard then to find one man who is both “faithful and wise,” but not impossible; for He would not pronounce a blessing on a character that could never be, as when He adds, “Blessed is that servant whom his lord when he cometh shall find so doing.”
Reproduced in full. Translation: Oxford 1841 (Newman), public domain (Public domain).