President of the Federal Reserve Bank of New York Timothy Geithner will become the Treasury secretary.
According to a Wall Street Journal report, Governor of the Bank of Israel Prof. Stanley Fischer could be a candidate to replace Timothy Geithner as the president of the Federal Reserve Bank of New York.
Geithner will become the Treasury secretary in Barack Obama's administration when Obama is sworn in on January 20, 2009.
The president of the New York branch of the Federal Reserve also serves as the vice-chairman of the Federal Open Markets Committee, and Geithner has already relinquished his responsibility on that body.
A formal search for a new president at the New York Fed has begun, and the Wall Street Journal named Fed official Kevin Warsh and former Goldman Sachs economist Bill Dudley as possible candidates. The paper listed Stanley Fischer as an outsider who could be considered, along with several others.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2008
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