Stanley Fischer wrote a letter to president Trump on September 6 2017. In the letter, he stated his intent to resign from his position on or around October 13, 2017. He was appointed to the Board of Governors of the Federal Reserve in 2014 by Barack Obama. His term would have expired in June 2018.
In his letter, Fischer claims that his resignation is for personal reasons. He also states that it was a privilege to work alongside Chair Yellen and others. Fischer will be the fourth current vacancy in the board. This may give president Trump an opportunity to nominate new governors that align with his policies.
Fischer's resignation appears to be unexpected, especially when considering his resume. He has formerly worked as vice chairman of Citigroup, first deputy managing director of the International Monetary Fund, chief economist of the World Bank, and governor of the Bank of Israel. He was also a professor at the Massachusetts Institute of Technology. It is unclear if he is planning to retire from his career.
