Stanley Fischer steps down from Fed citing 'personal reasons'

Stanley Fischer is stepping down as vice chair of the US Federal Reserve

Vice Chairman Stanley Fischer announces resignation from the Fed

Federal Reserve Vice-Chairman Stanley Fischer said Wednesday that he plans to resign from his post in mid-October.

"It's been a privilege to serve on the Federal Reserve board and most especially to work alongside Chair Yellen", Fischer said, citing the improvements in the economy and financial system in recent years. While at MIT, Fischer oversaw former Fed chairman Ben Bernanke's thesis and taught European Central Bank President Mario Draghi, according to Bloomberg. "We will miss his wise counsel, good humor, and dry wit", Fed Chair Janet Yellen said in a statement. "Having a complete board of governors, including members with banking experience, is important as the Fed moves forward with needed regulatory reforms and critical monetary policy decisions".

Artificial quake in North raises fear of another nuke test
However, the US-drafted statement , which was agreed by consensus, does not threaten new sanctions on North Korea . The United States' newest and most advanced fighter, the Marine Corps' F-35B Lightning II, joined U.S.

Fischer was head of Israel's central bank from 2005 until 2013.

Policymakers have twice raised rates in 2017 but a third rate hike this year is seen as increasingly unlikely because inflation has failed to rise despite persistent job growth.

West Virginia vs. Virginia Tech
No. 21 Virginia Tech and No. 22 West Virginia renew their rivalry Sunday night at FedEx Field in Landover, Maryland. It was Jennings and Grier who helped tie the score earlier in the fourth quarter with a 60-yard pitch and catch.

In a note to clients on Wednesday, Paul Ashworth, chief U.S. economist at Capital Economics, wrote that Fischer's resignation "presumably lowers the odds of [Yellen] being nominated for a second term [as Fed Chair]".

The resignation of Stanley Fischer, 73, creates another vacancy on the council that oversees the United States central bank. The resignation comes about nine months before Fischer's term as vice chairman was set to expire.

Preview & betting advice - MI (#11) vs. Florida (#17)
Illinois: The schedule isn't getting any easier, with Western Kentucky - an 11-game victor last season - visiting next week. The youngest team in college football has the goods to defend against some growing pains. "I like the way they worked".

"Adding that, "[Fischer] represented the Board internationally with distinction and led our efforts to foster financial stability. Trump has said that a renomination of Yellen is under consideration, though the White House is also looking at other candidates. He also served as the chief economist of the World Bank. I'm personally grateful for his friendship and his service.

Latest News