Washington, D.C., April 16, 2018 - The Institute of International Finance today released the following statement from IIF President and CEO Tim Adams after President Trump nominated Richard Clarida to serve as Vice Chairman of the Federal Reserve:
"I've known and worked with Richard Clarida for many years and am thrilled to see him nominated to be Vice Chairman of the Federal Reserve. The role of the Vice Chairman is a critical one, and I expect Richard's skills and knowledge will perfectly complement Chairman Powell as well as the other members of the Board. Having built a strong reputation of analytically-based pragmatism, thoughtfulness and collegiality over his career, Richard is well-known and highly respected among policymakers, academics and global financial markets. He also happens to be a genuinely good and kind person. I look forward to his confirmation and to working with him in the near future."
The Institute of International Finance is the global association of the financial industry, with close to 500 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks.'