Political Quotes

“I rise in support of the nomination of the Honorable Richard Clarida to be a member and Vice Chairman of the Board of Governors of the Federal Reserve System. Dr. Clarida has a breadth of private sector, government, and academic experience involving both monetary policy and financial markets. At his nomination hearing in the Banking Committee, he demonstrated his expertise and provided members insight of how his background, knowledge, and experience will aid the Federal Reserve Board and the country. This was evidenced when he received bipartisan support from members of the Banking Committee with a vote of 20-5. Dr. Clarida currently serves as managing director and global strategic advisor at PIMCO, a position he has held since 2006. Previously, he served as Assistant Secretary of the Treasury for Economic Policy from 2002 to 2003 and as a senior staff economist with the Council of Economic Advisers from 1986 to 1987. In his academic career, he was an assistant professor at Yale University from 1983 to 1988 and has served as a professor of economics at Columbia University in various capacities since 1988. If confirmed, Dr. Clarida will play an important role in monetary policy normalization. Dr. Clarida has written extensively about monetary policy and, along with others, developed a framework for monetary policy analysis that has been widely cited and used by policymakers around the world.…”