August 28, 2018 / 3:45 PM / in 3 months

Fed vice chair nominee Clarida advances in Senate vote

The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie

WASHINGTON (Reuters) - Richard Clarida, President Trump’s nominee to be vice chair of the Federal Reserve, cleared a procedural vote on Tuesday in the U.S. Senate.

Clarida, a managing director at fund manager Pimco and an economics professor at Columbia University, was nominated by President Donald Trump in April. The Senate voted 69-26 to advance his nomination to fill the post, one of the U.S. central bank’s most powerful, but it was not clear when a final vote would take place.

Reporting by Susan Cornwell; Editing by Chizu Nomiyama

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