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Here’s How Trump Can Reshape the Fed

  • Decisions now needed on chairman, vice chairman, two governors
  • Recent presidents have opted against shaking up central bank
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What Fischer's Resignation Means for Fed Policy

Stanley Fischer’s surprise early exit from the Federal Reserve makes President Donald Trump’s biggest economic decision of the next few months even starker: whether to preserve continuity at the top of the nation’s central bank -- or not.

Chair Janet Yellen’s term expires in February, and her reappointment hasn’t been seen as likely. Fischer, the vice chairman, announced Wednesday he will leave the Fed in October. Both are former economics professors and longtime central bank officials. Trump also has two more governor vacancies to fill, after nominating Randal Quarles to lead the institution’s regulatory efforts.