Business in Brief

Policy wonks favor Fischer as U.S. Fed chief

Former Bank of Israel Governor Stanley Fischer is the favored choice among central bankers and academic economists to be the next chairman of the U.S. Federal Reserve. At least, that is what The Washington Post's Wonkblog reported on Monday. The blog compared favorably Fischer's management style and reputation to that of other leading candidates. It also suggested that although he may not be a frontrunner for the job because he has already served as a public official for a foreign country, Fischer's time at Israel's central bank would not necessarily disqualify him in light of the 2012 appointment of Canadian Mark Carney to lead the Bank of England. (Ronen Shnidman)

Group seeks damages for high cheese prices

The Israel Consumer Council asked Agriculture Minister Yair Shamir yesterday to seek compensation for consumers who paid close to NIS 1 billion in higher prices after white cheese was removed from price controls. The request came after the finance and agriculture ministries found this week that dairies were enjoying excessive profits from white cheese and said price controls on the product should be reinstated. The council's estimate of losses to consumers was based on calculations that the price of white cheese had risen 56% since controls were lifted in 1999.  (Gabriela Davidovich-Weisberg and Ora Coren)