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Stanley Fischer, a renowned economist who held key positions at the US Federal Reserve and the Bank of Israel, has passed away at the age of 81.
Having served as vice-chair of the Fed and in various roles at the IMF and World Bank, Fischer made significant contributions to global economics. His tenure as governor of the Bank of Israel from 2005 to 2013 was particularly notable.
Aside from his official roles, Fischer was also a respected academic, teaching at institutions like MIT and mentoring future economic leaders such as Mario Draghi and Ben Bernanke.
His upbringing in Zambia and academic journey led him to become a leading figure in New Keynesian economics, with groundbreaking work in the 1970s. Fischer’s career spanned institutions like the World Bank, IMF, and Citigroup before his pivotal role at the Bank of Israel during the global financial crisis.
During his time at the Fed, Fischer advocated for a more stringent monetary policy, showcasing his expertise and foresight in economic matters. His departure in 2017 was met with praise from peers and colleagues in the field.
Stanley Fischer’s legacy as an economist and policymaker will continue to influence the field for years to come, leaving behind a remarkable impact on the world of finance and economics.