Former Bank of Israel Governor Stanley Fischer is the most qualified candidate for Federal Reserve chair, according to a column by Washington Post writer Neil Irwin.
Fischer is gaining popularity in economic circles, but President Barack Obama is not even considering the choice, Israel Hayom reports:
“It’s a quietly voiced frustration among current and former central bankers that the candidate best qualified to lead the Federal Reserve isn’t even being considered by the Obama administration,” Irwin writes. Fischer stepped down as Bank of Israel governor on June 30 after seven years on the job. Many believe his stewardship of the economy was what enabled Israel to emerge from the global financial crisis of 2007-2008 relatively unscathed, unlike other Western economies.
One reason Fischer is not being considered is because he only became a naturalized U.S. citizen in 1976. Irwin says he would be among the top choices of economists.
Fischer was the thesis adviser for current Federal Reserve Chairman Ben Bernanke and European Central Bank President Mario Draghi.