Fischer’s No. 2 Likely to Preserve His Policies Until Frenkel Arrives

Deputy Governor Karnit Flug will be in charge of the Bank of Israel for up to three months.

With all the speculation over the past week about what Jacob Frenkel will or won’t do when he takes the helm of the Bank of Israel, as of this week it is Deputy Governor Karnit Flug who is in charge. And, until Frenkel arrives in Israel, an interim period that could last as long as three months, she is expected to preserve the policy legacy of her previous boss, Stanley Fischer.