Fed’s Fischer resigns, leaving Trump earlier chance to shape central bank

WASHINGTON: US Federal Reserve Vice Chair Stanley Fischer (pictured) , a veteran central banker who helped set the course for modern monetary policy, said on Wednesday he will step down from his position in mid-October, potentially accelerating President Donald Trump’s opportunity to reshape the direction of the central bank. In a letter to Trump, Fischer, 73, said he was resigning for personal reasons effective on or around October. 13, eight months before his term as vice chair expires in June. In the letter, Fischer said jobs growth had returned to the United States and that “steps to make the financial system stronger and more resilient” had been taken — actions that may now be weakened by the Trump administration. — Reuters