Trump likely to pick Richard Clarida for Fed vice chair: report


President Donald Trump is expected to select PIMCO’s Richard Clarida as his nominee for vice chairman of the Federal Reserve, according to The Wall Street Journal.

Continue Reading Below

Clarida, a Republican and Columbia University economist, is known as a pragmatist and has drawn comparisons to newly installed Fed Chairman Jerome Powell. Clarida is a managing director and global strategic advisor at PIMCO, the investment management firm.

Powell began a four-year term in February, replacing Janet Yellen at the helm of the central bank.

Multiple reports on Thursday indicated that Clarida was a front-runner to become the Fed’s vice chair.