Stanley Fischer steps down from Fed citing 'personal reasons'

Stanley Fischer steps down from Fed citing 'personal reasons'

During his tenure at the Federal Reserve, he served as chairman of the Fed's committee on financial stability and the committee on economic and financial monitoring and research, and represented the Fed at worldwide regulatory gatherings.

His resignation will provide President Donald Trump with another opportunity to reshape the Fed.

He was appointed to the Fed by President Barack Obama in 2014 to a term as vice chair that would have expired in June 2018. Trump has nominated Randal Quarles, a former investment fund manager, to a fifth opening in the Fed's governor ranks.

Karolina Pliskova vs. Coco Vandeweghe 2017 US Open Quarterfinal Pick, Odds, Prediction
There's going to be a lot of pressure on Vandeweghe to play another clean match and any slip in her game will result in a loss. Vandeweghe was soon 3-1 up in the first set, but Pliskova won four of the next five games as a tie-break loomed.

"The strength of the financial system is absolutely essential to the ability of the economy to continue to grow at a reasonable rate, and taking actions which remove the changes that were made to strengthen the structure of the financial system is very risky", Fischer said in April.

Fischer, who was appointed in May 2014 by President Barack Obama, said he will resign from the board, effective on or around october 13.

Fischer has been highly influential at the Fed. Prior to Fischer's announcement, analysts were predicting National Economic Council Director Gary Cohn would be the president's choice to succeed Yellen.

Detroit Tigers trade OF Justin Upton
So far this season, Upton has accounted for 28 home runs and 94 RBI while sporting a.379 wOBA, his highest since the 2011 season. Reports are that the Angels have dealt pitcher Grayson Long and a player to be named later to the Tigers for Upton and cash.

In a recent speech, Yellen delivered a forceful defense of Wall Street reforms put in place after the crisis, widely seen as a direct contradiction of Trump's position which could cause her to lose favor in the White House.

Reports earlier this year suggested that a leading candidate for one of the other vacant slots is Marvin Goodfriend, an economics professor at Carnegie Mellon University in Pittsburgh.

At MIT in the 1970s, Fischer taught both Ben Bernanke, who decades later became Fed chair, and Mario Draghi, now the president of the European Central Bank.

United Kingdom manufacturing beats forecasts with strong growth in August
The job market saw its thirteenth straight month of growth, with August marking the quickest rate of increase since June 2014. On the price front, survey showed that input price inflation ticked up for the first time in six months.

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