Richard H. Clarida

Richard H. Clarida began a four-year term as vice chairman of the Board of Governors of the Federal Reserve System in September 2018 and took office as a Board member to fill an unexpired term ending January 31, 2022. He resigned on January 14, 2022. 

Clarida earned a bachelor's degree in economics from the University of Illinois at Urbana in 1979. He obtained his master's degree and doctorate in economics from Harvard University in 1983.

Prior to his appointment to the Board of Governors, Clarida served as the C. Lowell Harriss Professor of Economics and International and Public Affairs at Columbia University, where he taught from 1988 to 2018. From 1997 until 2001, Clarida served as chairman of the university's economics department. In addition to his academic experience, Clarida served as assistant secretary of the U.S. Treasury for economic policy from February 2002 to May 2003. In that position, he served as chief economic adviser to Treasury Secretaries Paul O'Neill and John Snow and was awarded the Treasury Medal in recognition of his service. Clarida also served as a senior staff economist on the Council of Economic Advisers under President Reagan. From 2006 to 2018, Clarida served as global strategic advisor with PIMCO. He was promoted to managing director in 2015.

Clarida is a member of the Council on Foreign Relations. He was a member of the National Bureau of Economic Research (NBER) from 1983 to 2018 and served as coeditor of the NBER International Macroeconomics Annual from 2004 to 2018.

Written by the Board of Governors of the Federal Reserve System and updated January 2022. See disclaimer.