Macro Musings

Richard Clarida on FAIT, R-Star, and the Future of the Fed’s Framework

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Synopsis

Richard Clarida is a well-known academic and policymaker who most recently was the Vice Chair of the Federal Reserve Board of Governors. Richard is currently a professor of economics at Columbia university and is also a managing director at PIMCO. Richard joins David on Macro Musings to talk about his academic and policy work, as well as his outlook for FAIT, the Fed’s framework review, the future of R-Star, and more.   Transcript for this week’s episode.   Richard’s Federal Reserve profile Richard’s PIMCO archive   David Beckworth’s Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server!   Join the Macro Musings mailing list! Check out our Macro Musings merch!   Related Links:   *How the Bundesbank Conducts Monetary Policy* by Richard Clarida and Mark Gertler   *The Science of Monetary Policy: A New Keynesian Perspective* by Richard Clarida, Jordi Gali, and Mark Gertler   *Monetary Policy Rules and Macroecono