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Obama picks Stanley Fischer for Fed vice chair

Former governor of the Bank of Israel Stanley Fischer addresses the Wall Street Journal CEO Council on November 19, 2013 in Washington, DCUS President Barack Obama Friday nominated former Israeli central bank governor and renowned economist Stanley Fischer as vice chair of the Federal Reserve, completing a shakeup of the board's leadership. The president also named former under secretary of the Treasury Lael Brainard to join the Fed board, and renominated current Fed governor Jerome Powell for a full term, setting up a full team for incoming chairwoman Janet Yellen.