Everything about Stanley Fischer totally explained
Stanley "Stan" Fischer (
Hebrew: סטנלי פישר) is an
economist and the current Governor of the
Bank of Israel.
Born in
Northern Rhodesia (now
Zambia) on
15 October 1943, he obtained his
B.Sc. and
M.Sc. at the
London School of Economics from 1962-1966 and his
Ph.D. at MIT in 1969, all in
economics. He was a professor at
MIT from
1977 to
1988, where he authored two popular economics textbooks:
Macroeconomics (with
Rudiger Dornbusch and Richard Startz) and
Lectures in Macroeconomics (with
Olivier Blanchard), and was a thesis advisor to
Ben Bernanke.
From January 1988 to August 1990 he was
Vice President, Development Economics and Chief Economist at the
World Bank. He then became the First Deputy Managing Director of the
International Monetary Fund, from September 1994 until the end of August 2001. By the end of 2001 Mr. Fischer had joined the influential Washington-based financial advisory body, the
Group of Thirty. After leaving the IMF, he served as Vice Chairman of
Citigroup, President of Citigroup International, and Head of the Public Sector Client Group. Mr. Fischer worked at Citigroup from February,
2002 to April,
2005.
He became Governor of the
Bank of Israel on
May 1,
2005. On the
9 January,
2005, it was announced that Mr. Fischer has agreed to become the next governor of the
Bank of Israel, after being nominated by Prime Minister
Ariel Sharon and Finance Minister
Benjamin Netanyahu. He has been involved in the past with the
Bank of Israel, having served as an American government adviser to Israel's economic stabilization program in 1985. Mr. Fischer has become an Israeli citizen, having exercised his right as a Jew to do so under the
Law of Return, the aforementioned action being a prerequisite to this appointment. The U.S. says he won't have to forego his American citizenship in order to assume the role. He replaced
David Klein, who ended his term as governor of the Bank of Israel on
January 16.
Fischer is able to speak Hebrew.
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