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Fed Nominee Stanley Fischer to Face Senate Confirmation Hearing

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money-graphThe Senate Banking Committee scheduled a hearing for Thursday morning to discuss the nomination of Stanley Fischer as vice chairman of the Federal Reserve, Reuters reported Wednesday.

Fischer submitted written testimony Wednesday that outlined the Fed’s goal to help maximize employment and driving price stability, according to the report by Ann Saphir and Jonathan Spicer.

“Almost always, these goals are complementary,” Fischer told Congress in his written testimony obtained by Reuters.

“But each of them must be an explicit focus of Fed policy,” he added, according to Reuters.

Fischer is the former head of the Bank of Israel and holds experience in crisis management from his seven-year tenure as second-in-command at the International Monetary Fund, Reuters reports.

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