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On Tuesday, the Senate Banking Committee approved Stanley Fischer as Vice Chairman of the Federal Reserve Board. The former governor of the Bank of Israel will be the Fed’s number 2 person, after Fed Chairwoman Janet Yellen.The Senate Banking Committee also approved former Under Secretary of the Treasury for International Affairs Lael Brainard and Fed Governor Jerome Powell for another term. All the votes were unanimous.
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The Senate still has to vote on the nominations, but no date has yet been set. If the Senate does not act quickly, the Fed will only have three serving governors for the first time since it was founded in 1913.
Published by Globes [online], Israel business news – www.globes-online.com
