Richard Clarida

Richard Harris Clarida (born May 18, 1957) is an American economist who served as the 21st Vice Chair of the Federal Reserve from 2018 to 2022.

Clarida resigned his post on January 14, 2022, to return from public service leave to teach at Columbia University for the spring term of 2022.

He is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University and, from 2006 until September 2018 and from October 2022 to the present, a Global Strategic Advisor for PIMCO.

In October 2018 he received the College of Liberal Arts and Sciences Alumni Achievement Award from the University of Illinois.

[4] He also introduced in 2014 the concept of a "new neutral" for American monetary policy which predicted a substantial decline in r*, the interest rate consistent with full employment and stable inflation.

[5] Clarida has served as a consultant to several prominent financial firms, including the Global Foreign Exchange Group at Credit Suisse First Boston and Grossman Asset Management.

"[8] On April 24, 2018, Clarida was officially nominated by President Donald Trump to succeed Stanley Fischer as Vice Chair of the Federal Reserve.

"[11] On October 4, 2021, Senator Elizabeth Warren requested the Securities and Exchange Commission investigate whether Clarida violated insider trading rules and to look into his "ethically questionable transactions".

Clarida sworn in as Vice Chair of the Federal Reserve in 2018