Understanding the Structure of the Federal Reserve

In this episode, Kathy Jones interviews Dr. Richard Clarida, PIMCO's global economic advisor and former vice Chairman of the Board of Governors of the U.S. Federal Reserve System.

Dr. Clarida is a managing director in PIMCO's New York office and teaches economics and international affairs at Columbia University. Prior to joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, serving as chief economic advisor to two U.S. Treasury secretaries. He and Kathy discuss the state of the economy, the way the Fed is structured, and some of the ways that central bankers communicate.

Kathy Jones and Liz Ann also discuss the current state of tariffs and their impact on the bond market, the Federal Reserve's policies, and the implications for both U.S. importers and exporters. Finally, Kathy and Liz Ann look ahead to the data and economic indicators that investors should be watching next week. 

You can read the report Liz Ann mentions, written with Kevin Gordon, here: "Promises: Tariffs Hit Markets."

And you can also check out Liz Ann's monthly Market Snapshot video. 

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. 

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