Prof. Stanley Fischer has died aged 81. One of many world’s most excellent financial figures, Fischer served as Governor of the Financial institution of Israel from 2005 to 2013. To tackle the position he immigrated to Israel and took on Israeli citizenship.
As head of Israel’s central financial institution he helped Israel emerge comparatively unscathed from the 2008 world monetary disaster with a pointy minimize within the rate of interest, quantitative easement and huge purchases of international forex, which helped defend Israeli exports.
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“Globes” selected Fischer because the Israeli economic system’s man of the yr in 2010. In 2014 he returned to the US and was appointed by President Barack Obama as Vice Chair of the Federal Reserve, the place he served till 2017. In recent times he additionally served for a brief interval on the board of administrators of Financial institution Hapoalim.
Fischer was born in 1943 within the British colony of Northern Rhodesia, which grew to become Zambia when it gained its independence. He obtained levels in Economics from the London College of Economics earlier than finishing his Ph.D. as MIT in 1969, below the mentorship of Nobel Prize winners Paul Samuelson and Robert Solow. A professor at MIT, he additionally served as a visitor researcher on the Hebrew College of Jerusalem.
He served as an advisor to the Israeli authorities within the Nineteen Eighties in serving to to deal with and minimize three-digit annual inflation. In 1994 Fischer was appointed deputy head of the Worldwide Financial Fund (IMF), and after that as deputy chairman of Citibank.
Fischer is survived by three kids and 9 grandchildren.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 1, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
