Fischer: Frenkel Must Work in Changed Economy, With Diminished Powers

In his farewell press conference, the Bank of Israel chief heaps praise on his successor and says his deputy Karnit Flug would have been a good governor, too.

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Jacob Frenkel will have to adjust to a changing economy and a post with less power than it commanded when he was Bank of Israel governor in the 1990s, Stanley Fischer said Tuesday in his final press conference...