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Federal Reserve Notes: Rich Clarida Rocks

Summary:
As I mentioned in an earlier post, Richard Clarida is one of the candidates for Fed Vice Chair who is most actively under the consideration by the Administration. His obvious qualifications are an outstanding academic reputation (Columbia University and the NBER), experience in government (in the George W. Bush Treasury) and now ten years of experience in the financial markets (at PIMCO).  But some might be interested in a talent that is less widely known: Rock music performer. I first became aware of Rich when he was still a grad student, playing rhythm guitar and singing in a convincing Beatles tribute band that performed in Harvard Square. Over the years he has recorded an oeuvre of songs – some of them at the Beatles’ old Abbey Road studio.  He released a CD under the name Time No

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As I mentioned in an earlier post, Richard Clarida is one of the candidates for Fed Vice Chair who is most actively under the consideration by the Administration. His obvious qualifications are an outstanding academic reputation (Columbia University and the NBER), experience in government (in the George W. Bush Treasury) and now ten years of experience in the financial markets (at PIMCO).  But some might be interested in a talent that is less widely known: Rock music performer.

I first became aware of Rich when he was still a grad student, playing rhythm guitar and singing in a convincing Beatles tribute band that performed in Harvard Square. Over the years he has recorded an oeuvre of songs – some of them at the Beatles’ old Abbey Road studio.  He released a CD under the name Time No Changes in 2016.  He composes the songs, writes the lyrics and sings the vocals, backed by an assembled group of studio musicians.  You can get the individual songs on Spotify, but I have just listened to the CD.

I lack the ability to be a musical critic, even an amateur.  But I think it’s great music.  His tenor voice reminds me of Adam Levine of Maroon 5.  For the record, my favorite is an old-time rocker called “Be my Girl.”  Most of the songs are softer.  Ballads.  They are love songs, but blessedly there is not a single “baybuh” in the collection.

How could this talent of Clarida’s possibly be relevant to his candidacy for the #2 job at the Fed?   Newly confirmed Chair Jay Powell plays electric guitar.  Maybe they can make music together.

Jeffrey Frankel
Jeffrey Frankel, a professor at Harvard University's Kennedy School of Government, previously served as a member of President Bill Clinton’s Council of Economic Advisers. He directs the Program in International Finance and Macroeconomics at the US National Bureau of Economic Research, where he is a member of the Business Cycle Dating Committee, the official US arbiter of recession and recovery.

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