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Trump To Nominate Richard Clarida As Fed Vice Chair

Richard Clarida, a longtime economics professor at Columbia University, has been tapped by President Donald Trump to be Vice Chairman of the Board of Governors of the Federal Reserve System.

Clarida has been Global Strategic Advisor for PIMCO for nearly 12 years. He is also a member of the Council on Foreign Relations and the National Bureau of Economic Research.

If confirmed by the Senate, Clarida would replace Stanley Fischer, who announced he was resigning as Vice Chairman for personal reasons effective October 13, 2017.

Trump intends to nominate Michelle Bowman of Kansas to serve on the Fed's Board of Governors through January 2020. Bowman currently serves as the Kansas State Bank Commissioner, a position to which she was the first woman appointed and confirmed by the Kansas State senate.

Dan Michael Berkovitz will also be nominated as Commissioner of the Commodity Futures Trading Commission for the remainder of a five-year term expiring April 13, 2023. Berkovitz is a partner and co-chair of the futures and derivatives practice at the law firm of WilmerHale.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

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