11-Dec (MarketWatch) — The White House is near naming Stanley Fisher to be the vice-chairman of the Federal Reserve, according to several reports on Wednesday. Fischer headed the Bank of Israel for eight years before retiring in June. He is well-known in U.S economic policy circles. As an economics professor at MIT, Fisher advised Fed chairman Ben Bernanke on his Ph.D. thesis. He left academia in 1988 to become chief economist at the World Bank. He then joined the International Monetary Fund, where he worked closely with U.S. officials during the Asian financial crisis. Fischer would replace Janet Yellen as the second highest Fed official when she takes over the top spot.
PG View: While Fischer has a great reputation and credentials, he’s just another Keynsian at heart. Appointment of Dallas Fed’s Richard Fisher would have been far more interesting.