By Ann Saphir
(Reuters) – Stanley Fischer, President Barack Obama’s pick to be vice chairman at the Federal Reserve, is a pragmatic policymaker who battled economic crises in Mexico and Asia and steered Israel’s economy safely out of the 2008 global financial meltdown.
He also grew up in a house with no running water, behind the general store his immigrant parents ran in present-day Zambia. Confirmation by the U.S. Senate would propel Fischer, 70, to the No. 2 spot at the world’s most powerful central bank.
Several big firms now expecting stronger December jobs report….
(Reuters) – As the U.S. Federal Reserve’s top officials debated their decision to scale back a massive bond-buying stimulus program last month, they were keen to steer a delicate path.
Minutes of the Fed’s December 17-18 policy meeting, released on Wednesday, showed many members of the policy-setting Federal Open Market Committee wanted to proceed with caution in trimming the asset purchases, and most wanted to stress that further reductions were not on a preset course.
/PHOENIX, Arizona (Reuters) – Two top Federal Reserve officials said on Tuesday they expected the U.S. central bank to reduce its stimulus at a steady pace, with the lone official to dissent against the Fed’s decision to trim its bond buying saying he was comfortable with the approach.
Boston Fed President Eric Rosengren, who voted against the Fed’s decision last month to reduce its monthly bond buying by $10 billion, told Reuters the central bank should not take any “dramatic steps” to wind down asset purchases.