obama nominates former governor of bank of israel as fed vice chairman
Last Updated : GMT 02:26:09
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*

obama nominates former governor of bank of israel as fed vice chairman obama nominates former governor of bank of israel as fed vice chairman

 



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*

obama nominates former governor of bank of israel as fed vice chairman obama nominates former governor of bank of israel as fed vice chairman

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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