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The Fed: Noted economist Clarida tapped by Trump for Fed vice chairmanship

Bloomberg
Richard Clarida, managing director of Pacific Investment Management Co., or Pimco.

Richard Clarida, a noted economist who also works for a bond-fund giant, has been tapped by President Trump to be the vice chairman of the Federal Reserve.

Clarida, a Columbia University economist who also is a managing director at Pimco, puts in place an economist as a deputy to Jay Powell, the Fed chairman who’s the first noneconomist in nearly 40 years to helm the central bank.

Clarida, who served in the Treasury Department during President George W. Bush’s administration, is known for expertise on issues including monetary policy, exchange rates and international capital flows.

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