Arab Today, arab today obama nominates former governor of bank of israel as fed vice chairman
Last Updated : GMT 21:10:43
Arab Today, arab today
Arab Today, arab today

Obama nominates former governor of Bank of Israel as Fed vice chairman

Arab Today, arab today

Arab Today, arab today Obama nominates former governor of Bank of Israel as Fed vice chairman

Washington - XINHUA

US President Barack Obama on Friday nominated Stanley Fischer, the former governor of the Bank of Israel, as vice chairman of the Federal Reserve, the latest move to reshape the seven-member Fed Board. If confirmed by the U.S. Senate, Fischer will succeed the Fed's vice chair Janet Yellen, who will replace Fed chairman Ben Bernanke to take the helm of the central bank in February. Fischer "is widely acknowledged as one of the world's leading and most experienced economic policy minds and I'm grateful he has agreed to take on this new role and I am confident that he and Janet Yellen will make a great team", Obama said in a statement. Obama also nominated Lael Brainard, former U.S. treasury undersecretary for international affairs, to serve as a Fed governor and renominated the current Fed governor Jerome Powell for a second term. "These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy," said the president. The three nominations, which are subject to confirmation by the Senate, will fill three openings on the seven-member Fed Board. This move came at a delicate moment when the Fed has just begun gradually normalizing its monetary policy as the U.S. economy picked up in recent months. In December, the Fed announced that it would start in January to taper its purchases of Treasury and mortgage-backed debt to a pace of 75 billion dollars a month from 85 billion dollars a month. However, many economists have expressed concerns that there could be significant spillover effects and unintended consequences as the Fed planned to unwind its massive monetary stimulus program, which triggered turbulence in emerging markets last summer. Analysts believed the veteran central banker and influential economist Fischer could bring much-needed experience of crisis management to the Fed and help relieve investors concerns. Fischer, 70, who has dual citizenship of the U.S. and Israel, served as the Governor of the Bank of Israel from 2005 to 2013, where he successfully navigated Israel's economy through the global financial crisis. Prior to joining the Bank of Israel, Fischer was vice chairman of Citigroup from 2002 to 2005. From 1994 to 2001, he served as the First Deputy Managing Director of the International Monetary Fund, where he addressed the Asian, Russian, Brazilian and other financial crisis of the late 1990s. Before that Fischer was an economics professor at the Massachusetts Institute of Technology in the 1970s and 1980s, where he taught a number of the world's top policy makers in international economics, including Fed Chairman Ben Bernanke and European Central Bank President Mario Draghi.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama nominates former governor of bank of israel as fed vice chairman Arab Today, arab today obama nominates former governor of bank of israel as fed vice chairman

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama nominates former governor of bank of israel as fed vice chairman Arab Today, arab today obama nominates former governor of bank of israel as fed vice chairman

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday