Who Will Be Janet Yellen’s Second in Command?
While Janet Yellen awaits Senate confirmation to become chair of the Federal Reserve following her nomination from President Barack Obama, the topic of her second in command has cropped up. Those up to speed on the issue have told The Wall Street Journal that Stanley Fischer is slated to be nominated for the job.
If nominated, Fischer would succeed Yellen and back her up during her time as chair of the U.S. central bank. Part of his appeal lies in the international contacts and experience Fischer has fostered in his 12 years as head of the Bank of Israel — he has dual citizenship in the United States and Israel. At present, Fischer is an economics professor at the Massachusetts Institute of Technology.
The Wall Street Journal reports that over the years, Fischer has taught a number of big names in government, including current Fed Chair Ben Bernanke, European Central Bank President Mario Draghi, and former Secretary of the Treasury Lawrence Summers.