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Fed Vice Chairman Stanley Fischer resigns

In July, Trump nominated former Treasury undersecretary Randy Quarles as the Fed’s Vice Chairman of supervision to oversee the banking industry.

The central bank is preparing to start unwinding the $4.5 trillion balance sheet it built up by buying bonds and other assets after the recession.

This effort is another step the Fed is taking to gradually reverse its crisis-era policies that are less necessary now that the economy is in an eighth year of expansion.

Fischer is widely considered a centrist on monetary policy whose views are closely aligned to Chair Yellen's.

"He represented the board internationally with distinction and led our efforts to foster financial stability," Yellen said in a statement .

READ MORE (Business Insider)

  • Fed Vice Chairman Fischer to resign for 'personal reasons'Chicago Tribune
  • Federal Reserve vice chairman to resign, opening another seat for Trump to fillLos Angeles Times
  • Janet Yellen's No. 2 at the Fed is stepping downYahoo Finance
  • Stanley Fischer announces resignation, opening yet another Fed vacancy for TrumpVox
  • Fed Vice Chair's Exit Throws Wall Street a Curveball on Interest
  • Teacher to Bernanke and Draghi, Fischer remembered as 'giant' in fieldMarketWatch
  • Top Federal Reserve official departsBBC News
  • Stanley Fischer, Federal Reserve vice chair, resignsCBS News
  • Vice Chair Stanley Fischer stepping down from Fed, citing 'personal reasons'USA TODAY

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Fed Vice Chairman Stanley Fischer resigns


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