REPORTS: Stanley Fischer Is The Leading Candidate To Become The Next Federal Reserve Vice Chairman

Stanley Fischer Bank of IsraelWikimedia CommonsStanley Fischer.

Israel’s Channel 2 is reporting that former Bank of Israel Governor Stanley Fischer is the leading candidate to replace Janet Yellen as the vice chairman of the Federal Reserve when she ascends to the top spot at the central bank in January.

Bloomberg News also reports that Fischer is the frontrunner for the job, citing a “person familiar,” but says the White House has declined to comment on the reports.

The Wall Street Journal says the White House is close to nominating Fischer to the post.

During his time as an economics professor at MIT from 1977 to 1988, Fischer advised outgoing Fed chairman Ben Bernanke on his Ph.D. thesis, and taught European Central Bank President Mario Draghi as well.

Fischer stepped down from the top spot at the Bank of Israel in June.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at