Richard H. Clarida is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University where he has taught since 1988, and served as Department Chariman 1997-2001. From February 2002 until May 2003, Clarida served as the Assistant Secretary of the United States Treasury for Economic Policy, a position that required confirmation by the US Senate. Clarida has published numerous and frequently cited articles in leading academic journals on monetary policy, exchange rates, interest rates, and international capital flows. He is frequently invited to present his views and research to the world's leading central banks, including the Federal Reseve, the ECB, the Bank of England, and the Bank of Japan. He has also served as an adviser to several prominent financial firms, including the Global Foreign Exchange Group at Credit Suisse First Boston and Grossman Asset Management. Since 2006, he has been Global Strategic Advisor with PIMCO. He is a member of the Council on Foreign Relations and the National Bureau of Economic Research. Clarida was director of the NBER Project on and Editor of G7 Current Account Imbalances: Sustainability and Adjustment (University of Chicago Press: 2007). Since 2004, he has served as co-editor of the NBER International Macroeconomics Annual. Clarida received his BS from the University of Illinois and his MA and PhD from Harvard University.