Mike Crapo

Trump pick for vice chair pledges support for key Fed goals

Richard Clarida, President Donald Trump's nominee for the No. 2 post at the Federal Reserve, pledged support Tuesday for the Fed's twin goals of stabilizing inflation and maximizing employment while also declaring the importance of the central bank's independence.

Clarida, an economics professor at Columbia University who is among the nation's leading experts on monetary policy, is the latest of several Trump selections to the Fed's board. In filling those key slots, the president has been gradually putting his personal stamp on the Fed.

Along with Michelle Bowman, another Trump nominee to the seven-member board, Clarida received generally favorable reviews during a...