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Fischer short-listed for N.Y. Fed post

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WASHINGTON (JTA) — Bank of Israel Governor Stanley Fischer is being eyed for the New York Federal Reserve presidency, according to the financial media.

The Wall Street Journal, Reuters and The Marker reported Tuesday that Fischer, who has served as Bank of Israel governor since 2005, is under consideration to replace Timothy Geithner, U.S. President-elect Barack Obama’s nominee to be Treasury secretary. Geithner is the president of the New York Federal Reserve Bank, the most influential of 12 regional branches of the Federal Reserve that determine financial policy.

Fischer, a dual U.S.-Israeli citizen, has served in senior positions at Citigroup, the International Monetary Fund and the World Bank. He was previously considered to lead the New York Federal Reserve in 2003.

A source in the Bank of Israel said that Fischer intends to finish out his five-year term, Ynet reported Wednesday.

"Naturally, if Obama calls on him for the job all options would be open, but right now Fischer wants to continue his term," the source said.

"He is undoubtedly connected to the new financial decision-makers in the Obama administration, and there are constant talks between the sides, including with the intended secretary of the treasury, but Fischer is not considering the position."
 

 

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