Fischer Confirmed to Fed Board

Register now

WASHINGTON — The Senate confirmed economist Stanley Fischer to the Federal Reserve Board Wednesday afternoon.

Fischer, a former governor for the Bank of Israel, is expected to succeed Janet Yellen as vice chairman of the Board, though lawmakers have yet to schedule a separate vote advancing him to that post. He won confirmation as a member of the Board 68-27.

The move follows several recent departures from the seven-member Fed Board. Lawmakers are expected to consider the nomination of Lael Brainard, a Treasury Department official, to governor, and the re-nomination of current Fed Gov. Jerome Powell, in coming weeks.

For reprint and licensing requests for this article, click here.
Law and regulation
MORE FROM AMERICAN BANKER