Report: Former BoI governor Fischer leading candidate for US Federal Reserve vice-chair

Source familiar with matter says man credited with guiding Israel’s economy through difficult waters has already been offered US job.

By JPOST.COM STAFF, REUTERS
December 11, 2013 22:03
Outgoing BoI Governor Stanley Fischer 370

Outgoing BoI Governor Stanley Fischer 370. (photo credit: Marc Israel Sellem/The Jerusalem Post)

 
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Former Bank of Israel governor Stanley Fischer is the leading candidate for vice chairman of the US Federal Reserve under chairwoman Janet Yellen, Channel 2 reported on Wednesday.

According to the report, there are other candidates for the position, but Fischer is known to be the leading candidate.

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US President Barack Obama has been informed of Fischer's candidacy, the report added.

A source familiar with the matter told Reuters that Fischer had already been offered the job.

"He's been offered the job" the source, who declined to be named, said. The source added that the process would still require approval by the U.S. Senate.

Fischer stepped down as Bank of Israel governor on June 30 after eight years on the job, two years before the end of his second five-year term.

A former chief economist at the World Bank and MIT professor, Fischer, 70, is widely credited with guiding Israel’s economy steadily through difficult waters.

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