The U.S. Senate voted 69-26 to confirm Southport resident Richard Clarida as the next vice chairman of the Federal Reserve.
Clarida, an economics professor at Columbia University and global strategic adviser for Pacific Investment Management Co. (PIMCO), was nominated in April by President Trump for a four-year term at the central bank. Clarida was previously in Washington from February 2002 to May 2003 as an Assistant Secretary of the U.S. Treasury for Economic Policy during the George W. Bush administration. He is also a member of the Council on Foreign Relations and the National Bureau of Economic Research, serving as co-editor of the latter’s International Macroeconomics Annual since 2004.
In March 2016, Clarida released a CD of original folk rock music titled “Time No Changes,” which he recorded at a studio in his home and at the legendary EMI Abbey Road Studios in London.