Fed’s Fischer Resigns, Leaving Trump Earlier Chance to Shape Central Bank
Summary: US Federal Reserve Vice Chair Stanley Fischer resigned from his post citing personal reasons. His resignation will become official October 13th, eight months before his term was set to expire. The board of governors, which votes on monetary policy decisions, could now have as few as three sitting members instead of its usual seven. Analysts believe that Fischer’s resignation lowers the likelihood of another rate increase this year.