13 Jan 2014
Stanley Fischer set to become Fed Vice-Chairman
FXstreet.com (Bali) - US President Obama looks set to nominate former Bank of Israel Chairman Stanley Fischer as Vice-Chairman of the Federal Reserve.
During Fischer's tenure, if confirmed, expect a policy-maker likely to challenge the effectiveness of forward-guidance policies. In recent speeches, with regards to forward-guidance, he had the following to say back in September.
"If you give too much forward guidance you do take away flexibility," adding "we don’t know what we’ll be doing a year from now. It’s a mistake to try and get too precise," and "you can’t expect the Fed to spell out what it’s going to do…because it doesn’t know."
During Fischer's tenure, if confirmed, expect a policy-maker likely to challenge the effectiveness of forward-guidance policies. In recent speeches, with regards to forward-guidance, he had the following to say back in September.
"If you give too much forward guidance you do take away flexibility," adding "we don’t know what we’ll be doing a year from now. It’s a mistake to try and get too precise," and "you can’t expect the Fed to spell out what it’s going to do…because it doesn’t know."