WASHINGTON—The Senate has voted 69-26 to confirm Richard Clarida as vice chairman of the Federal Reserve Board.
Prior to his confirmation, Clarida had expressed support for reducing the regulatory burden facing community-based financial institutions by better tailoring regulations.
Clarida is an economics professor at Columbia University and has been a managing director at the bond firm PIMCO since 2006. He also served as an assistant secretary at the Treasury Department during the George W. Bush administration.
The Fed still has three vacancies on its seven-member board. Marvin Goodfriend and Michelle Bowman are still pending before the Senate.