ITWASSOOTED: Governor Bank of Israel slated as President of New York Federal Reserve Bank

Wednesday, December 03, 2008

Governor Bank of Israel slated as President of New York Federal Reserve Bank

Last update - 04:26 03/12/2008

Stanley Fischer reportedly on shortlist to lead New York Fed

By TheMarker Staff and Reuters
Tags: New York Federal Reserve Bank

Stanley Fischer, the governor of the Bank of Israel, is reportedly again a candidate to replace Timothy Geithner as president of the New York Federal Reserve Bank, according to media reports.

Geithner has been nominated for Treasury Secretary of the Barack Obama administration.

The New York Fed is the most important of the 12 regional Fed banks. The instuitution serves as the U.S. central bank's most direct link to Wall Street as well as its chief crisis manager.

The New York Fed is moving ahead with seeking a permanent replacement for Geithner, its chairman Stephen Friedman said last week.

Apart from Friedman, Geithner and Fed Chairman Ben Bernanke will likely have the most say in who is selected, economists said.


The Wall Street Journal on Tuesday included Fischer - a former MIT professor who supervised US Federal Reserve chief Ben Bernanke's doctoral thesis - on its short list of prospects to replace Timothy Geithner.

Geithner, who was named Treasury secretary last week by President-elect Barack Obama, is expected to leave his post in "the next several weeks," according to a statement from the New York Fed.
if you don't comment no angel will gets its wings... 0