'Fischer not leaving Bank of Israel'
Sources in Bank of Israel say governor intends on seeing term through despite reportedly being shortlisted for head of Federal Reserve
Has Governor of the Bank of Israel Stanley Fischer been nominated to head the Federal Reserve? The Wall Street Journal reported Tuesday that Fischer has been shortlisted for the role, as current Fed chief Timothy Geithner has been tapped by US president-elect Barack Obama for the role of secretary of the treasury in his new administration.
The Bank of Israel refused comment on the report, saying only that it was aware of it.
A source in the Bank of Israel, however, said that Fischer – who was named the Bank's chancellor in 2005 – intends to see his five-year term through.
"Naturally, if Obama calls on him for the job all options would be open, but right now Fischer wants to continue his term.
"He is undoubtedly connected to the new financial decision-makers in the Obama administration, and there are constant talks between the sides, including with the intended secretary of the treasury, but Fischer is not considering the position (of Fed chief)."
The decision on who will take over for Geithner is for the Board of Governors of the Federal Reserve to make. The board is chaired by Stephen Friedman, retired chairman of The Goldman Sachs Group and is currently the head of Stone Point Capital, LLC.
Friedman, who according to the Post has also been shortlisted for the position, also served as director of the National Economic Council under President George Bush's administration.
