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Stanley Fischer, Former Fed Vice Chair and Bank of Israel Chief, Dies at 81
FILE PHOTO: Vice Chair of the U.S. Federal Reserve System Stanley Fischer arrives to hear Governor of the Bank of England Mark Carney delivering the Michel Camdessus Central Banking Lecture at the International Monetary Fund in Washington, U.S., September 18, 2017. Photo: REUTERS/Joshua Roberts/File Photo
Stanley Fischer, who helped shape modern economic theory during a career that included heading the Bank of Israel and serving as vice chair of the US Federal Reserve, has died at the age of 81.
The Bank of Israel said he died on Saturday night but did not give a cause of death. Fischer was born in Zambia and had dual US-Israeli citizenship.
As an academic at the Massachusetts Institute of Technology, Fischer trained many of the people who went on to be top central bankers, including former Federal Reserve Chairman Ben Bernanke as well as Mario Draghi, the former European Central Bank president.
Fischer served as chief economist at the World Bank, and first deputy managing director at the International Monetary Fund during the Asian financial crisis and was then vice chairman at Citigroup from 2002 to 2005.
During an eight-year stint as Israel’s central bank chief from 2005-2013, Fischer helped the country weather the 2008 global financial crisis with minimal economic damage, elevating Israel’s economy on the global stage, while creating a monetary policy committee to decide on interest rates like in other advanced economies.
He was vice chair of the Federal Reserve from 2014 to 2017 and served as a director at Bank Hapoalim in 2020 and 2021.
Current Bank of Israel Governor Amir Yaron praised Fischer’s contribution to the Bank of Israel and to advancing Israel’s economy as “truly significant.”
The soft-spoken Fischer – who played a role in Israel’s economic stabilization plan in 1985 during a period of hyperinflation – was chosen by then Finance Minister Benjamin Netanyahu and Prime Minister Ariel Sharon as central bank chief.
Netanyahu, now prime minister, called Fischer a “great Zionist” for leaving the United States and moving to Israel to take on the top job at Israel’s central bank.
“He was an outstanding economist. In the framework of his role as governor, he greatly contributed to the Israeli economy, especially to the return of stability during the global economic crisis,” Netanyahu said, adding that Stanley – as he was known in Israel – proudly represented Israel and its economy worldwide.
Israeli President Isaac Herzog also paid tribute.
“He played a huge role in strengthening Israel’s economy, its remarkable resilience, and its strong reputation around the world,” Herzog said. “He was a world-class professional, a man of integrity, with a heart of gold. A true lover of peace.”
The post Stanley Fischer, Former Fed Vice Chair and Bank of Israel Chief, Dies at 81 first appeared on Algemeiner.com.
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Hostage Deal talks Stalled as Hamas Rejects New Israeli Framework – Report
US President Donald Trump and Qatar’s Emir Tamim bin Hamad Al Thani attend a signing ceremony in Doha, Qatar, May 14, 2025. Photo: REUTERS/Brian Snyder
i24 News – i24NEWS’s diplomatic affairs correspondent, Amichai Stein, reported Sunday evening that negotiations over a potential hostage deal have hit a standstill.
According to political sources, “the negotiations are stalled, Hamas is refusing the new framework presented by Israel.”
Throughout the day, no direct negotiation meetings were held. Instead, the small security cabinet is set to convene this evening to discuss the state of the talks.
There is also speculation of a potential meeting between Qatari Emir Tamim bin Hamad Al Thani and US President Donald Trump to address the impasse and broader regional dynamics.
In parallel, Arab diplomats have reportedly issued a warning to Israel regarding its plan to construct a “humanitarian city” in Gaza. According to sources, diplomats cautioned that the initiative could harm the fragile fabric of the Abraham Accords and inflame regional tensions.
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Iran: ‘Israel Will Pay the Price’ for Allegedly Trying to Kill Pezeshkian
Iranian President Masoud Pezeshkian delivers a speech during the National Army Day parade ceremony in Tehran, Iran, April 18, 2025. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
i24 News – Iranian President Masoud Pezeshkian was slightly injured in the leg during an Israeli airstrike, according to a report on Sunday by the Iranian news agency Fars, prompting Iran to launch a widespread probe to root out suspected moles that infiltrated the Islamic Republic’s highest ranks.
Al Jazeera cited an unnamed Iranian official who said, “The assassination attempt on President Pezeshkian will not go unanswered – Israel will pay the price.”
According to Fars, which has ties to the Islamic Revolutionary Guard Corps, the attack took place on the morning of Monday, June 16, while a meeting of the Supreme National Security Council was held on the lower floors of a building in western Tehran. In addition to the Iranian president, Speaker of Parliament Mohammad Baqer Qalibaf, the head of the judiciary Mohseni Ajei, as well as other senior regime officials were attending this meeting.
Six bombs or missiles targeted the entry and exit points of the building in order to block evacuation routes and disrupt air circulation, the report said. This operation is said to have been inspired by the elimination of Hezbollah leader Hassan Nasrallah in Beirut last year. Following the explosions, power was cut on that floor, but the leaders managed to escape through an emergency exit prepared in advance.
Pezeshkian and several other officials sustained minor leg injuries during the evacuation, according to the agency. Given the accuracy of the information used in the attack, the media outlet reports that authorities are investigating the possibility of collaboration with Israel.
Official confirmation and reactions
A few days earlier, a high-ranking military leader in the Revolutionary Guards, Mohsen Rezaei, had stated on state television that Israel had “attacked six locations where the Supreme National Security Council had gathered, but none of its members had suffered even minor injuries.”
Pezeshkian had previously accused Israel of having attempted to assassinate him. “They tried, yes,” he told American journalist Tucker Carlson during an interview last week. “They acted accordingly, but they failed.”
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Hezbollah Violates Ceasefire 7 Times a Day on Average, IDF Figures Show
A drone view of buildings in Lebanon, next to the Israel-Lebanon border, following the ceasefire between Israel and Iran-backed terror group Hezbollah, as seen from Metula in northern Israel, Dec. 2, 2024. Photo: REUTERS/Ilan Rosenberg
i24 News – The Shiite jihadists of Hezbollah violate the ceasefire agreement with Israel more than seven times a day on average, according to Israel Defense Forces data obtained by i24NEWS and made public for the first time on Saturday.
Israel has flagged upward of 1,200 violations by Hezbollah in its report to the US-led five-country monitoring panel tasked with supervising the implementation of the ceasefire agreement.
Of these, 650 violations were relayed to the Lebanese army for handling, while the rest of the times the IDF responded by attacking the violators.
The Lebanese army has identified 390 additional violations on its own initiative and filed a report saying that it had handled them.
Thus official data shows that the Lebanese army handled 52% of all violations, and 440 of the targets Israel flagged by Israel.
The majority of the infractions the Lebanese army manages to stem are concentrated in the south of the country.
The post Hezbollah Violates Ceasefire 7 Times a Day on Average, IDF Figures Show first appeared on Algemeiner.com.