Stanley Fischer to Resign from Federal Reserve Board

Board of Governors of the Federal Reserve System (“FRB”) Vice Chair Stanley Fischer will resign from the FRB on or around October 13, 2017. Dr. Fischer announced his plans in a letter to President Donald J. Trump.

Dr. Fischer was appointed to the FRB by President Barack Obama in 2014 for an unexpired term set to end in 2020. Dr. Fischer’s term as Vice Chair was set to expire on June 12, 2018. During his tenure, Dr. Fischer served as chair of FRB Committees on (i) Financial Stability and (ii) Financial Monitoring and Research. He also represented the FRB internationally in various capacities.