The United States Federal Reserve Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the seven-member Fed governing board. Fischer is a widely-respected economist who taught at MIT, was head of the Bank of Israel for eight years and vice chairman at Citigroup.
Federal Reserve Vice Chairman Stanley Fischer said a rising tide of opposition to international trade and integration threatens global growth. Global trade this year will grow at the slowest pace since 2007, according to the World Trade Organization.
United States inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown.
US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.
The US Senate confirmed on Thursday Stanley Fischer to be vice chairman of the Federal Reserve and approved Jerome Powell and Lael Brainard as members of the central bank's board, bolstering the Fed as it prepares to wind down its extraordinary stimulus.
Former Bank of Israel Governor Stanley Fischer was sworn in as a member of the Federal Reserve's board this week, buttressing the U.S. central bank's depleted policymaking ranks as officials map out plans to exit from their extraordinary stimulus.
Federal Reserve policymakers last month began laying groundwork for an eventual retreat from easy monetary policy with a discussion of how to best control interest rates as they remove trillions of dollars from the financial system.
US President Barack Obama Friday nominated former Israeli central bank governor and renowned economist Stanley Fischer as vice chair of the Federal Reserve, completing a shakeup of the board's leadership.