Richard H. Clarida began a four-year term as Vice Chairman of the Board of Governors of the Federal Reserve System on September 17, 2018, and took office as Board member to fill an unexpired term ending January 31, 2022.
Prior to his appointment to the Board, Dr. Clarida served as the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University, where he taught from 1988 to 2018. From 1997 until 2001, Clarida served as chairman of the Department of Economics at Columbia University.
In addition to his academic experience, Dr. Clarida served as the assistant secretary of the U.S. Treasury for Economic Policy from February 2002 until May 2003. In that position, he served as chief economic adviser to Treasury secretaries Paul H. O'Neill and John W. Snow. He was awarded the Treasury Medal in recognition of his service. Dr. Clarida also served on the Council of Economic Advisers under President Reagan.
From 2006 to 2018, Dr. Clarida served as global strategic advisor with PIMCO and was promoted to managing director in 2015.
Dr. Clarida is a member of the Council on Foreign Relations and, from 1983 to 2018, was a member of the National Bureau of Economic Research (NBER). From 2004 to 2018, he served as co-editor of the NBER International Macroeconomics Annual.
He received a BS in economics from the University of Illinois with Bronze Tablet honors and an MA and PhD in economics from Harvard University.
Dr. Clarida is married with two children.