Former Bank of Israel Governor Nominated To Be Vice Chairman of the Federal Reserve

On Friday, President Barack Obama nominated Stanley Fischer the former Bank of Israel Governor to be the vice chairman of the Federal Reserve, and tapped two others to round out the U. S. central bank's top ranks just as it starts winding down its historic economic stimulus.
Fischer is an experienced crisis manager and one of the most prominent economists in the world.  He would succeed Janet Yellen, who is set to take the Fed's helm when Chairman Ben Bernanke's term expires at the end of this month.
Fischer, who is a dual citizen of the United States and Israel, was a long-time professor at the Massachusetts Institute of Technology.
The departing Fed Chairman Ben Bernanke and Mario Draghi, the current head of the European Central Bank, were among his students.
Obama is nominating Lael Brainard as a Fed governor.  During Obama's first term, Brainard served as the undersecretary for international affairs at Treasury.  She left the administration recently.  He also is re-nominating Jerome Powell to the Fed for a second term.

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Obama said in a statement, "These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy."