What Stanley Fischer Did at the IMF

Stanley Fischer has been nominated to be the vice chairman of the Federal Reserve Board. But senators should query him during his confirmation hearing about his time as No. 2 at the International Monetary Fund.

Stanley Fischer has officially been nominated to serve as vice chairman of the Federal Reserve. Although he is eminently qualified, one item on his resume is a potential cause for concern: his tenure as second-in-command of the International Monetary Fund from 1994 through much of 2001, a period when the IMF was aiding Russia's post-Soviet transition, as well as responding to crises in Asia and Latin America. Even with significant caveats, the record of the IMF during this period was undistinguished. During his confirmation hearings, senators should ask Fischer what role he played in the key decisions and whether he would have done anything differently with the benefit of hindsight and experience.

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