Obama Puts Israeli Citizen on U. S. Federal Reserve
U.S. President Barack Obama has nominated three people to the board of the country's powerful central bank.
Obama named Stanley Fischer, an Israeli citizen and former governor of Israel's central bank to be vice chairman of the U. S. Federal Reserve. If confirmed by the Senate, the 70-year-old Fischer would replace Janet Yellen, who is taking over as Fed chair next month as the eight-year tenure of Ben Bernanke expires. Fischer holds dual Israeli and U. S. citizenship.
The president also nominated Lael Brainard, one of his former international economic advisers, to the seven-member board, and renominated current board member Jerome Powell for a second term.
The Fed board sets policies for the world's largest economy as it attempts to boost job growth and keep inflation in check.
Obama named Stanley Fischer, an Israeli citizen and former governor of Israel's central bank to be vice chairman of the U. S. Federal Reserve. If confirmed by the Senate, the 70-year-old Fischer would replace Janet Yellen, who is taking over as Fed chair next month as the eight-year tenure of Ben Bernanke expires. Fischer holds dual Israeli and U. S. citizenship.
The president also nominated Lael Brainard, one of his former international economic advisers, to the seven-member board, and renominated current board member Jerome Powell for a second term.
The Fed board sets policies for the world's largest economy as it attempts to boost job growth and keep inflation in check.