Economist Stanley Fischer, former federal reserve president (Fed, the Central Bank of the United States) between 2014 and 2017, died at 81 on Saturday night, 31. Death was announced by Fischer’s Israel Bank between 2005 and 2013. The cause was not disclosed.
In a statement, the institution states that Fischer had a “great impact on the Israeli economy”, both in the 1980s, when he served as representative of the International Monetary Fund (IMF) in Israel and played a key role in formulating the 1985 economic stabilization plan, as later, during his term in the bank, when he led a responsible economic policy during a challenging period, including the global financial crisis of 2008.
“Generations of Israeli bank employees and I leaned our heads today in memory of Professor Fischer, whose contribution to the Israeli bank and the advance of the Israeli economy was truly significant. Our deepest condolences to his family,” said Israeli Bank President Amir Yaron.
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The president of the Inter-American Development Bank (IDB) and former president of the Central Bank of Brazil, Ilan Goldfajn, also regretted Fischer’s death.
“Stan was my thesis advisor and a reference for life (and many!),” He said in a publication on social networks. “His career covers an extraordinary academic trajectory and high positions of policy formulation in the IMF, World Bank, Federal Reserve and as governor of Israel’s bank. His legacy remains with all of us,” Goldfajn added.
