Vice Chair Stanley Fischer stepping down from Fed, citing ‘personal reasons’

CNBC/Jeff Cox/09-06-17

Federal Reserve Vice Chairman Stanley Fischer is stepping down from his position at the central bank, he told President Donald Trump in a letter Thursday.

Citing “personal reasons,” Fischer said his resignation will take effect Oct. 13.

“It has been a great privilege to serve on the Federal Reserve Board and, most especially, to work alongside Chair [Janet] Yellen as well as many other dedicated and talented men and women throughout the Federal Reserve system,” Fischer wrote.

The resignation comes with his term to expire on June 12, 2018 and creates yet another opening for Trump to fill at a critical time for the Fed.

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