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Experts

Richard Clarida

Global Economic Advisor


Dr. Clarida is a managing director in the New York office and PIMCO's global economic advisor. Prior to rejoining PIMCO in 2022, he was the firm's global strategic advisor from 2006 to 2018. He served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System from September 2018 to January 2022. Dr. Clarida is also the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University. Prior to joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, in which he served as chief economic advisor to two U.S. Treasury Secretaries. Earlier in his career, he was with Credit Suisse and Grossman Asset Management. He has 25 years of investment experience and holds a Ph.D. and a master's degree in economics from Harvard University. He received an undergraduate degree with Bronze Tablet Honors from the University of Illinois.
Rich Clarida

Latest Insights

Blog
At Jackson Hole, Fed Reinforces Policy Stance
28/08/2023
The Fed chair’s high-profile speech emphasized the central bank’s focus on taming inflation.
Viewpoints
Bond Market Outlook: Valuations Suggest Potential for Equity-Like Returns With Less Risk
12/07/2023
High-quality fixed income assets may offer the best return potential in more than a decade along with diversification benefits as a likely recession approaches.
Economic and Market Commentary
Investing in the Aftershock Economy
06/07/2023
Learn how investors can navigate an evolving investment landscape by taking advantage of attractive opportunities, like today’s high starting bond yields.
Viewpoints
Fiscal Arithmetic and the Global Inflation Outlook
06/07/2023
Debt-financed fiscal policy is driving much of today’s high inflation, but as pandemic-era measures fade, central banks will likely return to their key role in managing price levels.
Economic and Market Commentary
Secular Outlook: The Aftershock Economy
09/06/2023
Markets will likely face more volatility as the global economy exits a period of massive fiscal and monetary support. Listen to our outlook for the global economy and markets over the next five years. Section 1: Key Takeaways Section 2: Secular Theme Section 3: Investment Implications
Economic and Market Commentary
The Aftershock Economy
06/06/2023
Markets will likely face more volatility as the global economy exits a period of massive fiscal and monetary support. In this post-policy era, attractive yields on high quality bonds encourage a more resilient approach to investing.
Economic and Market Commentary
Two Former Fed Leaders Decode Central Banks: Part 2
01/06/2023
In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.
Economic and Market Commentary
Two Former Fed Leaders Decode Central Banks: Part 1
01/06/2023
In this two-part series, former Fed chairman Dr. Ben Bernanke, who is now a senior advisor at PIMCO, and Dr. Richard Clarida, a former Fed vice chairman who now is PIMCO’s global economic advisor, share policymakers’ playbook for navigating global challenges. For other insights and our latest economic outlook visit: pimco.com/secular.
Viewpoints
Markets Are Finally Listening to Fed’s ‘Ongoing Increases’ Message
22/02/2023
Bond markets are pricing in additional Federal Reserve interest rate hikes, acknowledging the central bank’s emphatic resolve to tame inflation despite the likely trade-offs.