Senate Confirms Stanley Fischer as No. 2 at U.S. Central Bank

Former governor of Bank of Israel approved as vice chairman of Federal Reserve by 63-24 vote.

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Former Bank of Israel Governor Stanley Fischer, now vice chairman of U.S. Federal Reserve.
Former Bank of Israel Governor Stanley Fischer, now vice chairman of U.S. Federal Reserve.Credit: Daniel Bar-On

The U.S. Senate on Thursday confirmed former Bank of Israel Governor Stanley Fischer to be vice chairman of the Federal Reserve.

Fischer, confirmed last month as a member of the board, was approved to be the central bank's influential No. 2 on a 63 to 24 vote.

The Senate also confirmed Jerome Powell and Lael Brainard as members of the central bank's board, and they and Fischer will be plunged quickly into the thick of decisions requiring long-range judgment about the direction of the economy.

Fischer and Brainard are expected to share chair Janet Yellen's focus on keeping an easy monetary policy in place for some time to lift wages and employment.

Fischer, 70, a noted academic who served as governor of the Bank of Israel from 2005 to 2013, has been outspoken in arguing that the fallout from the economic crisis showed the need for aggressive central bank actions.

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