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      Archive: 1/12/2014

      News Brief

        1/12/2014, Shevat 11, 5774

      Democrat Hesitant on Fischer Appointment

      Market Watch reports President Barack Obama has some lobbying to do in his own party about his choice of Stanley Fischer as vice chairman of the Federal Reserve.

      In an interview with Bloomberg TV, Massachusetts Democrat Sen. Elizabeth Warren says she wants to be “hopeful” that Fischer would work “in the right direction.” But she’s not sure, says Market Watch.

      That’s not a hard “no” on Fischer from Warren, but it’s cause for concern, says Market Watch.  Market Watch also notes opposition from Warren and other liberal senators helped sink Larry Summers’ prospects for running the central bank. He withdrew from consideration in September, and the job ultimately went to Janet Yellen.

      In the Bloomberg TV interview, scheduled to air Friday night, Warren sounds more concerned about the Fed than Fischer himself. The 70-year-old Fischer, a dual U.S. and Israeli citizen, was most recently governor of the Israeli central bank, adds Market Watch.