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Financial News: Yellen's Number Two Leaving Fed

Yellen's Number Two Leaving Fed

09/06/2017 - 11:09:00 (RTTNews)

(RTTNews) - Federal Reserve Vice Chairman Stanley Fischer said Wednesday that he plans to resign from his post in mid-October.

Fischer, 73, said he was leaving for personal reasons.

His term was set to expire in June, having served on the Fed since 2014.

"Stan's keen insights, grounded in a lifetime of exemplary scholarship and public service, contributed invaluably to our monetary policy deliberations. He represented the Board internationally with distinction and led our efforts to foster financial stability," said Chair Janet L. Yellen. "I'm personally grateful for his friendship and his service. We will miss his wise counsel, good humor, and dry wit."

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