US Federal Reserve (Fed) Vice Chairman Fischer resigned.
US Federal Reserve (Fed) Vice Chairman Stanley Fischer has reportedly resigned.
In an official statement released by the Fed, it was stated that Fischer, the bank’s vice chairman and a member of the board of directors, submitted his letter of resignation to US President Donald Trump.
In his letter, 73-year-old Fischer stated that he resigned for personal reasons, emphasizing that he was privileged to serve at the Fed and that the American economy, which recovered from the 2008 financial crisis during his tenure, continued to strengthen.
Fed Chair Janet Yellen underlined that Fischer’s service contributed to the Fed’s monetary policy and to financial stability in the country.
Fischer’s resignation will be effective as of October 13, and his term as a member of the board of governors was set to expire on January 31, 2020, and as vice chairman on June 12, 2018.
Fischer has been on the Fed’s board of governors since January 28, 2014, and became vice chairman on June 16, 2014.
Source:www.milliyet.com.tr
