WASHINGTON—Columbia University economist Richard Clarida has been sworn in to serve as vice chairman of the Federal Reserve Board.
During his confirmation hearing and in other comments, Clarida has offered support of reducing the regulatory burden facing community-based financial institutions by better tailoring regulations.
The Fed still has three vacancies on its seven-member board, with the nominations for Marvin Goodfriend and Michelle Bowman still pending before the Senate. Clarida's term as vice chairman will expire in four years.