Richard Clarida, the Fed vice chair. Photo: Dominik Bindl/Getty Images

Richard Clarida is back in the recording studio cooking up some heat, the Fed vice chair tells Axios exclusively.

Scoop: Clarida is working on a follow-up album to 2016's certified banger "Time No Changes," he says, and has already recorded a number of tracks.

The big picture: He was tight-lipped on when the album would be released or whether there would be a collaboration with Fed chair Jerome Powell.

  • The streets have been demanding a Clarida-Powell pairing on wax since word got out about their set together performing an acoustic-alternative medley of “God Rest Ye Merry Gentlemen” and “We Three Kings” at the Fed's 2018 holiday party.
  • However, it's unlikely Clarida's album will be released this year, he says.

Straight from the source: "I have been in the studio," Clarida says. "But I've been a little busy lately."

The intrigue: There is concern that the vice chair's status as a federal employee could force him to push back the album's release date, his communication officer tells Axios.

  • Government employees aren't supposed to earn outside income.
  • That could keep the new music in a vault for some time, as his term on the Fed doesn't end until Jan. 31, 2022.

Go deeper: Listen to Clarida's "Just Can't Wait" on YouTube. His album is also available on Spotify, Apple Music and Tidal.

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