Stanley Fischer

2025-09-25T06:01:02Z

2A06:C701:9776:5000:919:F1BF:4633:A459: /* Bank of Israel */

{{Short description|American and Israeli economist (1943–2025)}}
{{Distinguish|text=British colonial judge [[Stanley Fisher]]}}
{{Use mdy dates|date=June 2025}}
{{Infobox officeholder
| name = Stanley Fischer
| image = Stanley Fischer (14152693510).jpg
| office = 20th [[Vice Chair of the Federal Reserve]]
| president = [[Barack Obama]] [[Donald Trump]]
| term_start = June 16, 2014
| term_end = October 13, 2017
| predecessor = [[Janet Yellen]]
| successor = [[Richard Clarida]]
| office2 = Member of the [[Board of Governors of the Federal Reserve]]
| president2 = Barack Obama Donald Trump
| term_start2 = May 21, 2014
| term_end2 = October 13, 2017
| predecessor2 = [[Ben Bernanke]]
| successor2 = [[Michelle Bowman]]
| office3 = 8th Governor of the [[Bank of Israel]]
| primeminister3 = [[Ariel Sharon]] [[Ehud Olmert]] [[Benjamin Netanyahu]]
| term_start3 = May 1, 2005
| term_end3 = June 30, 2013
| predecessor3 = [[David Klein (economist)|David Klein]]
| successor3 = [[Karnit Flug]]
| office4 = 6th First Deputy Managing Director of the [[International Monetary Fund]]
| 1blankname4 = Managing Director
| 1namedata4 = [[Michel Camdessus]] [[Horst Köhler]]
| term_start4 = September 1, 1994
| term_end4 = August 31, 2001
| predecessor4 = Richard Erb
| successor4 = [[Anne Osborn Krueger]]
| office5 = 3rd [[Chief Economist of the World Bank]]
| president5 = [[Barber Conable]]
| term_start5 = January 1988
| term_end5 = August 1990
| predecessor5 = Anne Osborn Krueger
| successor5 = [[Lawrence Summers]]
| birth_date = {{birth date|1943|10|15}}
| birth_place = [[Mazabuka]], [[Northern Rhodesia]]
| death_date = {{death date and age|2025|5|31|1943|10|15}}
| death_place = [[Lexington, Massachusetts]], U.S.
| spouse = {{marriage|Rhoda Keet|1965|2020|reason=d}}
| children = 3
| education = [[London School of Economics]] ([[Bachelor of Science|BSc]], [[Master of Science|MSc]]) [[Massachusetts Institute of Technology]] ([[Doctor of Philosophy|PhD]])
| signature = Stanley Fischer signature.png
| module = {{Infobox economist
| child = yes
| field = [[Macroeconomics]]
| school_tradition = [[New Keynesian economics]]
|doctoral_advisor = [[Franklin M. Fisher]]<ref name="PhD thesis">{{cite thesis |last=Fisher |first=Stanley |date=1969 |title=Essays on assets and contingent commodities |type=Ph.D. |publisher=[[MIT]] |hdl=1721.1/13873 |url=https://dspace.mit.edu/handle/1721.1/13873 |access-date=May 25, 2017}}</ref>
|doctoral_students = [[Zvi Bodie]]<ref>{{cite thesis |last=Bodie |first=Zvi |date=1975 |title=Hedging against inflation |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000027143 |access-date=May 23, 2017}}</ref> [[Isher Judge Ahluwalia]]<ref>{{cite thesis |last=Ahluwalia |first=Isher Judge |date=1976 |title=A macro-econometric model of the Indian economy analyzing inflation during 1951-1973 |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000036081 |access-date=May 30, 2017}}</ref> [[Frederic Mishkin]]<ref>{{cite thesis |last=Mishkin |first=Frederic Stanley |date=1976 |title=Illiquidity, the demand for consumer durables, and monetary policy |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000036096 |access-date=May 24, 2017}}</ref> [[Steven M. Sheffrin]]<ref>{{cite thesis |last=Sheffrin |first=Steven M. |date=1976 |title=Rational expectations and employment fluctuations |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000029234 |access-date=May 31, 2017}}</ref> [[Olivier Blanchard]]<ref>{{cite thesis |last=Blanchard |first=Olivier |date=1977 |title=Two essays on economic fluctuations |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000057369 |access-date=February 1, 2017}}</ref> [[Ben Bernanke]]<ref>{{cite thesis |last=Bernanke |first=Ben |date=1979 |title=Long-term commitments, dynamic optimization, and the business cycle |type=[[Doctor of Philosophy|PhD]] |publisher=[[Massachusetts Institute of Technology]] |url=https://dspace.mit.edu/bitstream/handle/1721.1/29839/05915220-MIT.pdf?sequence=2 |access-date=October 23, 2016}}</ref> [[Kazuo Ueda]]<ref>{{cite thesis | last=Ueda |first=Kazuo |date=1980 |title=Dynamic Interactions Between Trade Flows and Exchange rates |type=Ph.D. |publisher=[[MIT]] |url= https://mit.primo.exlibrisgroup.com/discovery/fulldisplay?docid=alma990001129680106761&context=L&vid=01MIT_INST:MIT&lang=en&search_scope=all&adaptor=Local%20Search%20Engine&tab=all&query=any,contains,Kazuo%20Ueda&offset=0 |access-date=April 24, 2024}}</ref> [[David Hsieh]]<ref>{{cite thesis |last=Hsieh |first=David Arthur |date=1981 |title=Expectations and efficiencies in international markets |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000117075 |access-date=May 27, 2017}}</ref> [[Kenneth D. West]]<ref>{{cite thesis |last=West |first=Kenneth D. |date=1983 |title=Inventory models and backlog costs : an empirical investigation |type=Ph.D. |publisher=[[MIT]] |url=https://dspace.mit.edu/bitstream/handle/1721.1/15498/11248849-MIT.pdf?sequence=2 |access-date=March 16, 2017}}</ref> [[Greg Mankiw]]<ref>{{cite web |title=A Profile of Stanley Fischer |url=http://gregmankiw.blogspot.jp/2013/02/a-profile-of-stanley-fischer.html |publisher=GREG MANKIW'S BLOG |date=September 19, 2016}}</ref> [[Jeffrey Miron]]<ref>{{cite thesis |last=Miron |first=Jeffrey Alan |date= 1984 |title=The economics of seasonal time series |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000219612 |access-date=May 27, 2017}}</ref> [[Mark Bils]]<ref>{{cite thesis |last=Bils |first=Mark |date=1985 |title=Essays on the cyclical behavior of cost and price |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000239735 |access-date=May 27, 2017}}</ref> [[David Romer]]<ref>{{cite thesis |last=Romer |first=David |date=1985 |title=General equilibrium analysis of government financial policies |type=Ph.D. |publisher=[[MIT]] |url=http://library.mit.edu/item/000241700 |access-date=May 24, 2017}}</ref> [[Ricardo J. Caballero]]<ref>{{cite thesis |last=Caballero |first=Ricardo J. |date=1988 |title=The Stochastic Behavior of Consumption and Savings |type=Ph.D. |publisher=[[MIT]] |url=https://dspace.mit.edu/bitstream/handle/1721.1/99793/20002978-MIT.pdf?sequence=1#page=4 |access-date=October 17, 2016}}</ref> [[Michael Kuehlwein]]<ref>{{cite web |title=Michael Kuehlwein |url=https://www.mathgenealogy.org/id.php?id=207571 |website=The Mathematics Genealogy Project |access-date=August 27, 2021}}</ref> [[D. Nathan Sheets]]<ref>{{cite thesis |last=Sheets |first=D. Nathan |date=1993 |title=Essays in intersectoral economics: exchange rates, public capital and productivity |type=Ph.D. |publisher=[[MIT]] |hdl=1721.1/12708 |url=https://dspace.mit.edu/handle/1721.1/12708 |access-date=May 27, 2017}}</ref> [[Ilan Goldfajn]]<ref>{{cite thesis |last=Goldfajn |first=Ilan |date=1995 |title=On public debt and exchange rates |type=Ph.D. |publisher=[[MIT]] |hdl=1721.1/11082 |url=https://dspace.mit.edu/handle/1721.1/11082 |access-date=May 25, 2017}}</ref>}}
| caption = Official portrait, 2014
| native_name = {{nobold|סטנלי פישר}}
| native_name_lang = he
}}

'''Stanley Fischer''' ({{langx|he|סטנלי פישר}}; October 15, 1943 – May 31, 2025) was an American and Israeli economist who served as the 20th [[Vice Chair of the Federal Reserve|vice chair of the Federal Reserve]] from 2014 to 2017. Fischer previously served as the 8th governor of the [[Bank of Israel]] from 2005 to 2013. Born in [[Northern Rhodesia]] (now [[Zambia]]), he held [[Dual Citizenship in United States#Dual citizenship|dual citizenship]] in [[Israel]] and the [[United States]].<ref name=SMH-Dec12>[http://www.smh.com.au/business/world-business/stanley-fischer-firms-as-top-choice-to-become-us-fed-vice-20131212-2z75m.html Stanley Fischer firms as top choice to become US Fed vice], [[The Sydney Morning Herald]], via [[Bloomberg News]], December 12, 2013.</ref> He previously served as First Deputy Managing Director of the [[International Monetary Fund]] and as [[Chief Economist of the World Bank]].<ref>{{cite news| url=https://www.nytimes.com/2011/06/13/business/global/13fischer.html | work=The New York Times | first=Jack | last=Ewing | title=Bank of Israel Chief Enters Race to Lead I.M.F | date=June 12, 2011}}</ref> On January 10, 2014, President [[Barack Obama]] nominated Fischer to the position of [[Vice Chair of the Federal Reserve]]. On September 6, 2017, Fischer announced that he was resigning as vice-chair for personal reasons effective October 13, 2017.<ref>{{Cite news|url=https://www.federalreserve.gov/newsevents/pressreleases/other20170906b.htm|title=Stanley Fischer submits resignation as a member of the Board of Governors, effective on or around October 13, 2017|publisher=Board of Governors of the Federal Reserve System|access-date=September 6, 2017|language=en}}</ref> He was a senior advisor at [[BlackRock]].<ref>{{cite news | url=https://www.ft.com/content/44bec8bc-2fa8-11e9-ba00-0251022932c8 | title=Former Fed vice-chair Stanley Fischer to join BlackRock | newspaper=Financial Times | date=February 13, 2019 | last1=Fleming | first1=Sam }}</ref>

==Background==
Stanley Fischer, whose Hebrew name was Shlomo Ben Pesach Hacohen,<ref name=JNS>{{cite news|url = https://www.jns.org/former-bank-of-israel-governor-stanley-fischer-dies-at-81|title=Former Bank of Israel governor Stanley Fischer dies at 81|last=Cohen|first=Nitzan|date=June 1, 2025|accessdate= June 1, 2025|website=[[Jewish News Syndicate|JNS]]}}</ref> was born into a [[Jews|Jewish]] family in [[Lusaka]], [[Northern Rhodesia]] (now [[Zambia]]), on October 15, 1943.<ref name = Hagerty>{{cite news|url = https://www.nytimes.com/2025/06/01/business/stanley-fischer-dead.html|title = Stanley Fischer, Who Helped Defuse Financial Crises, Dies at 81|last = Hagerty|first = James R.|date = June 1, 2025|accessdate = June 1, 2025|newspaper = [[The New York Times]]|url-access = limited}}</ref> When he was 13, his family moved to [[Southern Rhodesia]] (now [[Zimbabwe]]), where he became an active member of [[Habonim Dror|Habonim]], a [[Labor Zionism|Labor Zionist]] youth movement.<ref name="JNS"/> In 1960, he visited [[Israel]] as part of a winter program for youth leaders, and studied [[Hebrew language|Hebrew]] at [[kibbutz]] [[Ma'agan Michael]].

Fischer initially intended to study chemistry at the [[Hebrew University of Jerusalem]], but was drawn to economics after being introduced to the work of [[Paul Samuelson]] at the [[Massachusetts Institute of Technology]] and reading [[The General Theory of Employment, Interest and Money|The General Theory of Employment, Interest, and Money]] by [[John Maynard Keynes]].<ref>{{cite news |last=Rappeport |first=Alan |title=Stan Fischer Saved Israel's Economy. Can He Save America's? |url=https://www.washingtonpost.com/news/wonk/wp/2013/02/15/stan-fischer-saved-israels-economy-can-he-save-americas/ |newspaper=The Washington Post |date=February 15, 2013 |access-date=2025-06-06}}</ref> He accepted a scholarship to attend the [[London School of Economics]] in [[England]], where he received [[Bachelor of Science|B.Sc.]] and [[Master's degree|M.Sc.]] degrees in [[economics]] between 1962 and 1966.<ref name = Hagerty/> While at LSE, he studied [[Keynesian macroeconomics]] and was introduced to [[econometric modeling]]. He subsequently enrolled in the doctoral program in economics at the [[Massachusetts Institute of Technology]] (MIT), citing the presence of Paul Samuelson and [[Robert Solow]] as a primary factor in his decision.<ref name="FRSpeech">{{cite web |title=Remarks by Vice Chairman Stanley Fischer |url=https://www.federalreserve.gov/newsevents/speech/fischer20160307a.htm |website=Federal Reserve |date=March 7, 2016 |access-date=2025-06-06}}</ref> He received a [[Doctor of Philosophy|Ph.D.]] in 1969 with a dissertation titled ''Essays on Assets and Contingent Commodities'', which addressed [[general equilibrium theory]] under uncertainty.<ref name="PhD thesis"/><ref>{{MathGenealogy|id=137386}}</ref> He became a naturalized [[Citizenship of the United States|United States citizen]] in 1976.

In 1965, Fischer married Rhoda Keet, whom he met during his days in Habonim; the couple had three children.<ref name = Hagerty/> When they moved to Israel, Rhoda became honorary president of [[Aleh Negev]], a rehabilitation village for the disabled. Rhoda Fischer died in 2020.<ref name = Hagerty/>

Fischer died from [[Alzheimer's disease]] at his home in [[Lexington, Massachusetts]], on May 31, 2025, at age 81.<ref name = Hagerty/><ref>[https://www.ynetnews.com/business/article/hyi11g11kmex Stanley Fischer, former Israeli central bank chief and US Federal Reserve vice chair, dies at 81]</ref>

==Academic career==
Fischer began his academic career at the [[University of Chicago]] faculty, serving as an [[assistant professor]] from 1970 to 1973. He returned to MIT in 1973, where he stayed for the remainder of his academic career. He held the Elizabeth and James Killian Class of 1926 Professorship from 1992 to 1995 and served as department chair in 1993–94, before working at the [[International Monetary Fund|IMF]].<ref name=MIT>{{cite news |title=Stanley Fischer, towering figure in economics, dies at 80 |url=https://news.mit.edu/2025/stanley-fischer-towering-figure-economics-dies-0603 |work=MIT News |date=June 3, 2025 |access-date=2025-06-06}}</ref>

Many of Fischer's students at MIT went on to prominent roles in global economic policy, including [[Federal Reserve]] chairman [[Ben Bernanke]], [[European Central Bank]] president [[Mario Draghi]], [[Inter-American Development Bank]] president [[Ilan Goldfajn]], [[Reserve Bank of Australia]] governor [[Philip Lowe]], and [[Bank of Japan]] governor [[Kazuo Ueda]]. Others, such as [[Greg Mankiw]] and [[Christina Romer]], chaired the [[Council of Economic Advisers]], while [[Maurice Obstfeld]], [[Kenneth Rogoff]], and [[Frederic Mishkin]] held senior positions at the [[International Monetary Fund]] and the [[Federal Reserve]].<ref name="MIT"/>

In 1977, Fischer published the paper ''Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule'',<ref>Stanley Fischer (1977) [https://www.jstor.org/stable/1828335?origin=JSTOR-pdf Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule] [[Journal of Political Economy]].</ref> which reconciled the concept of [[rational expectations]]—developed by [[new classical macroeconomics|new classical]] economists such as [[Robert Lucas, Jr.|Robert Lucas]]—with the phenomena of [[price stickiness]] and observed this fusion creates certain market imperfections and advocated for active [[monetary policy]] to mitigate economic downturns. Through this critique of [[new classical macroeconomics]], Fischer contributed significantly to clarifying the limits of the [[policy-ineffectiveness proposition]].<ref>{{cite book |last=Galbács |first=Peter |title=The Theory of New Classical Macroeconomics. A Positive Critique |location=Heidelberg/New York/Dordrecht/London |publisher=Springer |year=2015 |isbn= 978-3-319-17578-2 |doi=10.1007/978-3-319-17578-2 |series=Contributions to Economics }}</ref> Fischer's analysis contributed to the foundation of [[New Keynesian economics]].<ref>Binyamim Appelbaum (December 12, 2013). "[https://economix.blogs.nytimes.com/2013/12/12/young-stanley-fischer-and-the-keynesian-counterrevolution/ Young Stanley Fischer and the Keynesian Counterrevolution] ''New York Times''. Retrieved December 15, 2014</ref><ref>Dylan Matthews (January 13, 2014) [https://www.washingtonpost.com/blogs/wonkblog/wp/2014/01/13/stanley-fischer-saved-israel-from-the-great-recession-now-janet-yellen-wants-him-to-help-save-the-u-s/ Stanley Fischer saved Israel from the Great Recession. Now Janet Yellen wants him to help save the U.S.]". ''The Washington Post''. Retrieved January 15, 2014</ref>

He authored three popular economics textbooks, ''Macroeconomics'' (with [[Rudi Dornbusch|Rüdiger Dornbusch]]), ''Lectures on Macroeconomics'' (with [[Olivier Blanchard]]), and the introductory ''Economics'', with David Begg and Rüdiger Dornbusch.

In 2012, Fischer served as [[Humanitas Programme|Humanitas Visiting Professor]] in Economic Thought at the [[University of Oxford]].<ref>[http://www.strategicdialogue.org/events/items/humanitas-economic-fischer "Humanitas Visiting Professorship in Economic Thought"] {{webarchive|url=https://web.archive.org/web/20130512135045/http://www.strategicdialogue.org/events/items/humanitas-economic-fischer |date=May 12, 2013 }}, Institute for Strategic Thought, University of Oxford, November 5–6, 2012.</ref>

==Public policy and banking career==
[[File:Stanley Fischer.jpg|thumb|left|Stanley Fischer at 2000 in [[International Monetary Fund]]]]

From January 1988 to August 1990 he served as [[Chief Economist of the World Bank]]. He was then appointed First Deputy Managing Director of the [[International Monetary Fund]], and served in that role from September 1994 to August 2001. By the end of 2001, Fischer had joined the [[Group of Thirty]], an influential Washington D.C.-based financial advisory body. From February 2002 to April 2005, after leaving the IMF, he was an executive at [[Citigroup]], where he served as Vice Chairman, President of Citigroup International, and Head of the Public Sector Client Group.<ref>[https://www.nytimes.com/2014/03/13/business/economy/stanley-fischer-fed-nominee-has-long-history-of-policy-leadership.html "Stanley Fischer, Fed Nominee, Has Long History of Policy Leadership"], New York Times, March 12, 2014.</ref>

===Bank of Israel===
Fischer was appointed Governor of the [[Bank of Israel]] in January 2005 by the [[Cabinet of Israel|Israeli cabinet]], after being recommended by Prime Minister [[Ariel Sharon]] and Finance Minister [[Benjamin Netanyahu]]. He had been involved in the past with the Bank of Israel; he had helped implement Israel's [[1985 Israel Economic Stabilization Plan|1985 Economic Stabilization Plan]] as a U.S. government adviser. He took the position on May 1, 2005, replacing [[David Klein (economist)|David Klein]] (who ended his term on January 16, 2005), and was sworn in for a second term on May 2, 2010.<ref>{{cite news |last=Filut |first=Adrian |date=May 2, 2010 |title=Stanley Fischer sworn in for second term |newspaper=Globes |url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000556585&fid=942 |access-date=May 2, 2010}}</ref> Fischer became an [[Israeli citizenship law|Israeli citizen]], but did not [[renunciation of United States citizenship|renounce his U.S. citizenship]].<ref>{{cite news |url= https://www.wsj.com/articles/SB10001424052702304259304576380053947526230|title= Israel's Stanley Fischer Announces Bid to Head the IMF|first= Joshua|last= Mitnick|date= June 13, 2011|newspaper= Wall Street Journal |access-date=December 30, 2012}}</ref><ref>{{cite web |url= http://www.businessweek.com/news/2011-06-12/fischer-s-age-nationality-are-hurdles-in-bid-for-imf-post.html|archive-url= https://web.archive.org/web/20110614201238/http://www.businessweek.com/news/2011-06-12/fischer-s-age-nationality-are-hurdles-in-bid-for-imf-post.html|url-status= dead|archive-date= June 14, 2011|title= Fischer's Age, Nationality Are Hurdles in Bid for IMF Post|first= Alisa |last=Odenheimer|date= June 12, 2011|publisher= Bloomberg News |access-date=December 30, 2012}}</ref><ref>{{cite news|url= https://en.globes.co.il/en/article-875656|title= Bach c'tee approves Fischer|first= Zeev|last= Klein|date= January 19, 2005|newspaper= [[Globes (newspaper)|Globes]]|access-date= December 30, 2012}}</ref>

Under his management, in 2010, the Bank of Israel was ranked first among central banks for its efficient functioning, according to [[International Institute for Management Development|IMD's World Competitiveness Yearbook]].<ref name=ynet>{{cite news |url=http://www.ynetnews.com/articles/0,7340,L-3891801,00.html |title=Israel's economy most durable in face of crises |date=May 20, 2010 |last=Viniar |first=Olga |publisher=Ynetnews |access-date=October 23, 2010}}</ref>

Fischer was widely praised for his handling of the Israeli economy during the [[2008 financial crisis]]. In September 2009, the Bank of Israel was the first bank in the developed world to raise [[interest rates]].<ref>{{cite news |url=https://www.haaretz.com/print-edition/business/israel-central-bank-first-in-developed-world-to-raise-interest-1.282630 |title=Israel central bank first in developed world to raise interest |last1=Levy |first1=Tal |last2=Bassok |first2=Moti |date=August 25, 2009 |access-date=October 23, 2010 |newspaper=[[Haaretz]]}}</ref> In 2009, 2010, 2011, and 2012 Fischer received an "A" rating on the Central Banker Report Card published by [[Global Finance (magazine)|''Global Finance'' magazine]].<ref>{{cite web |url=http://www.gfmag.com/tools/best-banks/2479-the-worlds-top-central-bankers-2009.html |title=World's Top Central Bankers 2009 |date=September 28, 2010 |access-date=October 23, 2010 |work=[[Global Finance (magazine)|Global Finance]]}}</ref><ref>{{cite web |url=http://www.gfmag.com/tools/best-banks/10618-worlds-top-central-bankers-2010.html |title=Global Finance Magazine names the World's Top Central Bankers 2010 |date=September 9, 2010 |access-date=October 23, 2010 |publisher=Global Finance}}</ref>

In June 2011, Fischer applied for the post of IMF managing director to replace [[Dominique Strauss-Kahn]], but was barred, as the IMF stipulates that a new managing director must be no older than 65, and he was 67 at the time.<ref>{{cite news |last=Wroughton |first=Lesley |url=https://www.reuters.com/article/imf-candidates-idUSN1314405820110613 |title=Lagarde, Carstens shortlisted for IMF race-officials |date=June 13, 2011 |publisher=[[Reuters]]}}</ref>

On June 30, 2013, Fischer stepped down as Governor of the Bank of Israel halfway through his second term,<ref>{{cite news |url=http://www.ynetnews.com/articles/0,7340,L-4338601,00.html |title=Stanley Fischer to step down as BOI chief |publisher=Ynetnews |date=January 29, 2013 |access-date=January 30, 2013}}</ref> despite high popularity.<ref>{{cite news|url=https://www.washingtonpost.com/blogs/wonkblog/wp/2013/02/15/stan-fischer-saved-israels-economy-can-he-save-Americas|archive-url=https://web.archive.org/web/20130216085905/http://www.washingtonpost.com/blogs/wonkblog/wp/2013/02/15/stan-fischer-saved-israels-economy-can-he-save-americas/|url-status=dead|archive-date=February 16, 2013|title=Stan Fischer saved Israel's economy. Can he save America's?|author=Dylan Matthews|date=February 15, 2013|newspaper=The Washington Post}}</ref>

===U.S. Federal Reserve===
American President [[Barack Obama]] nominated Fischer to the position of [[Vice Chair of the Federal Reserve]], the United States' central bank, in January 2014. In nominating Fischer for the position, Obama stated he brought "decades of leadership and expertise from various roles, including serving at the International Monetary Fund and the Bank of Israel."<ref>{{cite news|title=Obama Nominates Former Bank of Israel Chief Stanley Fischer as Fed Vice Chairman|url=https://www.haaretz.com/news/world/1.567961|newspaper=Ha'aretz|access-date=January 6, 2018}}</ref>

On May 21, 2014, the [[United States Senate|Senate]] confirmed Fischer's appointment to the [[Federal Reserve Board of Governors]].<ref name=LATimes>{{cite news|last1=Puzzanghera|first1=Jim|title=Senate confirms Brainard, Powell for Fed seats, Fischer as vice chair|newspaper=The Los Angeles Times|date=June 12, 2014}}</ref> In a separate vote on June 12, he was confirmed as the vice chair.<ref name=LATimes /> Fischer succeeded [[Janet Yellen]] as vice chair; Yellen had become [[Chair of the Federal Reserve]] earlier in 2014. Fischer resigned for personal reasons in mid-October 2017, eight months before the expiry in June 2018 of his term as vice chair.<ref>{{cite web|last1=Liesman|first1=Steve|title=Larry Lindsey being considered for Fed vice chair job: Sources|url=https://www.cnbc.com/2017/12/21/larry-lindsey-being-considered-for-fed-vice-chair-job-sources.html|publisher=CNBC|access-date=January 6, 2018|date=December 21, 2017}}</ref><ref>{{cite web|agency=Reuters|title=Stanley Fischer Quits No. 2 Post At Federal Reserve|date=September 6, 2017 |url=https://forward.com/fast-forward/381961/stanley-fischer-quits-no-2-post-at-federal-reserve/|work=Forward Magazine|access-date=January 6, 2018}}</ref>

== Awards and recognition ==
Fischer received an [[honorary doctorate]] from the [[Hebrew University of Jerusalem]] in 2006.<ref>{{cite web |url=http://www.bis.org/review/r060620c.pdf |title=Stanley Fischer: The Israeli economy |publisher=bis.org |access-date=October 23, 2010}}</ref> In October 2010, Fischer was declared Central Bank Governor of the Year by ''[[Euromoney]]'' magazine.<ref>{{cite web |url=http://www.euromoney.com/Article/2682278/Central-bank-governor-of-the-year-2010-Stanley-Fischers-bold-moves-show-the-value-of-experience.html?single=true |title=Central bank governor of the year 2010: Stanley Fischer's bold moves show the value of experience |date=October 2010 |publisher=Euromoney }}</ref> He was the winner of ''Central Banking''{{'}}s Lifetime Achievement Award in 2022.<ref>[https://www.centralbanking.com/awards/7943021/lifetime-achievement-award-stanley-fischer Lifetime Achievement Award]</ref>

He was a member of the [[Bilderberg Group]] and attended its conferences in 1996, 1998, and 1999. He also appears to have attended the Bilderberg Group's conference in 2011 in [[St. Moritz]], [[Switzerland]],<ref>{{cite web|url=http://www.bilderbergmeetings.org/participants_2011.html |title=Bilderberg 2011 list of participants |publisher=BilderbergMeetings.org |access-date=August 24, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110828210925/http://www.bilderbergmeetings.org/participants_2011.html |archive-date=August 28, 2011 }}</ref> though (as of March 2016) his name does not show up on the list of participants for the year 2011. He was a Distinguished Fellow of the [[Council on Foreign Relations]]. Fischer was named a Distinguished Fellow of the [[American Economic Association]] in 2013. He was also a member of the [[Inter-American Dialogue]].<ref>{{Cite web|url=http://www.thedialogue.org/experts/?iad_experttype=75|title=Inter-American Dialogue {{!}} Experts|website=www.thedialogue.org|access-date=April 11, 2017|archive-date=February 2, 2020|archive-url=https://web.archive.org/web/20200202110127/https://www.thedialogue.org/experts/?iad_experttype=75|url-status=dead}}</ref>

==References==
{{Reflist|30em}}

==External links==
{{Wikiquote}}
* [https://www.federalreservehistory.org/people/stanley-fischer Profile] at the [[Federal Reserve]]
* {{Cite web |title=Profile |url=https://www.boi.org.il/en/AboutTheBank/OfficeHolders/Pages/StanleyFischer.aspx |archive-url=https://web.archive.org/web/20220405040520/https://www.boi.org.il/en/AboutTheBank/OfficeHolders/Pages/StanleyFischer.aspx |archive-date=April 5, 2022|publisher=[[Bank of Israel]]}}
* [http://www.imf.org/external/np/omd/bios/sf.htm Profile] at the [[International Monetary Fund]]
* [http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=1441360&privcapId=4890713&previousCapId=1589616&previousTitle=Goldman,%20Sachs%20&%20Co. Profile]{{dead link|date=January 2025|bot=medic}}{{cbignore|bot=medic}} at ''[[Bloomberg Businessweek]]''
* [http://www.cfr.org/experts/world/stanley-fischer/b2436 Profile] ({{Webarchive|url=https://web.archive.org/web/20110604015818/http://www.cfr.org/experts/world/stanley-fischer/b2436 |date=June 4, 2011 }}) at the [[Council on Foreign Relations]]
* [http://www.piie.com/fischer/index.html Profile] at the [[Peterson Institute for International Economics]]
** [http://www.piie.com/fischer/pub.html List of publications, 1994–present]
* [http://www.nber.org/people/stanley_fischer Publications] at the [[National Bureau of Economic Research]]
* [https://fraser.stlouisfed.org/title/3778 Statements and Speeches of Stanley Fischer]

* [http://www.project-syndicate.org/contributor/397 Column archive] at [[Project Syndicate]]
* {{C-SPAN|21738}}
* {{Charlie Rose view|3846}}
* {{IMDb name|1977810}}
* {{Haaretztopic|Stanley%20Fischer}}

; Articles
* [http://www.imf.org/external/np/speeches/2001/010601a.htm "Exchange Rate Regimes: Is the Bipolar View Correct?"], [[International Monetary Fund]], Distinguished Lecture on Economics in Government, American Economic Association and the Society of Government Economists. Delivered at the Meetings of the American Economic Association, New Orleans, January 6, 2001
* [http://www.citigroup.com/citigroup/features/fischer040813.htm Stanley Fischer: The Life of an Internationally Renowned Economist], [[Citigroup]], August 13, 2004
* [http://www.thebanker.com/news/fullstory.php/aid/2160/Why_so_gloomy_on_the_global_economy_.html Why so gloomy on the global economy?], ''The Banker'', October 4, 2004
* [https://web.archive.org/web/20050529225703/http://quote.bloomberg.com/apps/news?pid=10000006 Citigroup's Fischer to Head Israel's Central Bank], ''[[Bloomberg L.P.|Bloomberg]]'', January 9, 2005
* [https://news.bbc.co.uk/2/hi/business/4161997.stm Israel looks to US for bank chief], [[BBC News]], January 10, 2005
* [http://www.cfr.org/bios/2436/stanley_fischer.html C. Peter McColough Series on International Economics: The Israeli Economy: Thriving in a Complicated Environment] ({{Webarchive|url=https://web.archive.org/web/20080517045115/http://www.cfr.org/bios/2436/stanley_fischer.html |date=May 17, 2008 }}), [[Council on Foreign Relations]], October 18, 2007

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Stanley Fischer