Fed: Richard Clarida to be the next Vice-Chair? – Deutsche Bank

Analysts at Deutsche Bank note that the White House has confirmed that President Trump intends to nominate Richard Clarida as the next Fed Vice-Chair and Kanas State Bank Commissioner Michelle Bowman to fill one of the vacant Fed Governor positions.

Key Quotes

“Mr Clarida is a Columbia University professor and an MD at Pimco. On the nominations, the Fed’s Kaplan said he has known “Rich for many years” and “thinks extremely highly of him”. Overall, he “don’t know (if the new nominees) will change the dynamic around the table”.”