Federal Reserve Vice Chairman Stanley Fischer unexpectedly announced his resignation. Effective October 13, he will leave his office and seat on the Board of the American central bank.
The announcement came from Fischer himself who, in a letter addressed to President Donald Trump, the 73-year-old justified his resignation with "personal reasons".
The term on the central bank board of the 73-year-old appointed by Barack Obama on May 28, 2014 was due to expire on January 31, 2020, while that of vice president would have expired on June 12, 2018, three months after that of Janet Yellen.
In the letter, Fischer said “he is proud to have made the financial system stronger and more resilient after the financial crisis”. It cannot be excluded that Fischer has decided to resign also because he is embittered by the danger of dismantling the rules against wild speculation on Wall Street as President Trump would like to do and against which Fischer had openly spoken out.
