Fed’s Vice President Stanley Fischer to step down in mid-October

Federal Reserve Vice Chairman Stanley Fischer has resigned effective in mid-October, giving President Trump more room to reshape the leadership of the US Fed sooner than expected.

Fischer cited “personal reasons” in a resignation letter Wednesday to Trump for leaving on or around Oct. 13.

“During my time on the Board, the economy has continued to strengthen, providing millions of additional jobs for working Americans,” he wrote in the letter. “We have built upon earlier steps to make the financial system stronger and more resilient.”