Two weeks back, Forbes and CNBC reported that President Obama plans to nominate Stanley Fischer to be the next vice chairman of the Federal Reserve if the current vice chair, Janet Yellen, is confirmed by the Senate as Fed chairwoman in the new year.
This would be a giant sop for the Israel lobby: Fischer is the former head of the Bank of Israel.
Fischer, a dual-citizen of the U.S. and Israel, served as the head of Israel’s central bank for eight-years before stepping down on June 30 of this year.
Fischer is disliked on the left because of his ruthless neoliberalism, as shown in this documentary about the International Monetary Fund, where he was once an exec. But the dual nationality question is also in play. Matthew Yglesias deemed Fischer extraordinarily well-qualified, but did arch an eyebrow:
This is a bit of a surprising development if only because Fischer didn’t seem to be seriously considered as a contender for the top Fed job. I figured that was either because Fischer wasn’t interested in a government job or because the White House deemed him insufficiently American. If either of those were the case, it would seem to disqualify him for the vice chairmanship too…..Read