Senate Confirms Clarida for Fed Vice Chair

The Senate today voted 69-26 to confirm economist and monetary policy specialist Richard Clarida to serve as Federal Reserve vice chairman. Clarida is currently a global strategic advisor at Pimco, an American investment firm, and previously served as assistant Treasury secretary for economic policy under the George W. Bush administration.

ABA President and CEO Rob Nichols applauded the vote, noting that Clarida’s “strong understanding of monetary policy and economics, as well as his depth of experience in government and in the private sector, will be a tremendous asset as the Fed continues to fulfill its important mission. Having worked with Rich at the Treasury Department, I know he is dedicated to serving the American people and that his expertise will further strengthen the Fed Board.”