Nominations of Clarida, Bowman to Fed Board sent to Senate

Richard Clarida

The Senate on Tuesday received the president’s nominations of Richard Clarida and Michelle Bowman to complete unexpired terms on the Federal Reserve Board that continue through Jan. 31, 2022, and Jan. 31, 2020, respectively.

Clarida is nominated to a four-year term as the Fed’s vice chairman and as a governor representing Region 1 (Boston, Mass); he would succeed Stanley Fischer as vice chairman (he resigned from the board last October) and complete the unexpired board term of Daniel Tarullo (who left the Fed last April). He’s an economics professor at Columbia University and has previously served in the Reagan administration and, among other things, is a strategic advisor for PIMCO.

Michelle Bowman

Bowman is nominated as the Fed Board’s community bank representative for Region 8 (St. Louis, Mo.); she would complete Fischer’s unexpired board term. Bowman is currently serving as Kansas State Bank Commissioner, reportedly the first woman appointed to that post (and to the state Senate). A former banker, she has also served previously on Capitol Hill, at the Federal Emergency Management Agency and Department of Homeland Security.