President George W. Bush has said he will nominate Columbia Economics Department Chair and faculty member at the School of International Public Affairs Richard Clarida to be assistant secretary of the Treasury for economic policy, the final major slot on the administration's economic team. Clarida would begin his post, which is subject to approval by the U.S. Senate, on Oct. 1.

"If I am so fortunate to be confirmed by the Senate, I will report directly to Treasury Secretary Paul O'Neill and his deputy and will work closely with them and other senior officials to coordinate and develop the economic policy positions of the Treasury," said Clarida.

Clarida, who has chaired the economics department since 1997, was a senior staff economist on the Reagan Administration's Council of Economic Advisers. He has also served as a consultant to the Federal Reserve Bank of New York. He specializes in macroeconomics and international economics, with a particular focus on the practice of interest rate adjustments by major central banks, including the Federal Reserve.

Clarida would join Columbia professor Glenn Hubbard, who is chairman of the Council of Economic Advisers, in the nation's capital.

The Economics Department expects to name a new chair sometime this fall. Clarida, who will be taking national service leave from the University, will continue serving as chair of the department until he begins his duties in Washington.