Janet Yellen will be the FRS Chairman
U.S. President Barack Obama announced his decision to appoint to the post of deputy head of the Federal Reserve one of the most influential economists, Stanley Fischer, the CNN money informs.
Fisher will take place of Janet Yellen, who is appointed the head of the U.S. Federal Reserve on February 1, 2014. The last eight years, Stanley Fischer served as head of the Bank of Israel. During this period, he was three times named as the best central bank head according to Global Finance magazine. Before that, he was Vice President of the World Bank and the First Deputy Chairman of the International Monetary Fund.
In addition, Fisher taught economics to future heads of central banks at MIT in 1970-s. Thus, his former students were FRS Chairman Ben Bernanke, European Central Bank President Mario Draghi, the former U.S. Treasury Secretary Larry Summers, and prominent economists Kenneth Rogoff and Greg Mankiw.
In the near future the FRS is to solve several important problems. First, according to the decision of the present head of the Central Bank, Bernanke, they need to cut the program to stimulate the U.S. economy. Secondly, according to recent reports, the U.S. is having serious problems with jobs.
