The influential economist Stanley Fisher dies

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Stanley Fischer, a former former US -federal political reserve and the Bank of Israel, whose thinking was very influential among economists, died at the age of 81.

Fischer, a former deputy chairman of the Federal Reserve, served at the International Monetary Fund, where he worked as an administrative deputy, the first deputy administrator, worked to respond to Asian and Russian crises in the late 1990s. He also held the position of chief economists at the World Bank.

Fisher’s death was announced on Sunday by the Bank of Israel, where he held the position of ruler from 2005 to 2013. The country’s president, Isaac Heroji, praised him that he was a “global professional, a inmate man, with a heart of gold.”

While he got some of the largest positions in the global economy, Fischer’s profession was no less important because of his academic and educational work, including the Massachusetts Institute of Technology.

Former European Central Bank President Mario Dragi and former Federal Reserve Chairman Ben Bernanky was among the students who helped doctorates in supervision.

“The human dimension of Stan’s work was impressive and effective, such as his wonderful economic analysis and his wonderful communication skills,” said Mohamed El -Erian, head of Queen’s College at Cambridge and the chief economic advisor at Allianz.

“This quality was constantly clear – whether it was in his approaches in cases of reforming the individual country, and his endeavor to a comprehensive, permanent, and fair peace in the Middle East or its contributions to the performance of the international economic system.”

Fisher was born in the 1940s in Zambia when the UK Reserve was in northern Rodisia, and Fisher was the son of Philip, a Jewish immigrant from Latvia who had a rustic store in the town of Mazabuka, and Anna, who was born in Cape Town and was the daughter of Lithuan immigrants.

Fisher later recalled the farmers surrounded by the influence of prominent colonialism in its upbringing. “I am the product of the British Empire, and there is no doubt about that,” he told the Financial Times in 2017.

Fischer studied the economy at the London College of Economics, where he launched an academic profession that he would also take to the Massachusetts Institute of Technology, where he obtained a PhD in the economy in 1969 and at the end a professor.

His academic work in the seventies of the twentieth century proved that he is a pioneer because he built the idea that central activist banks can stimulate the economy and become a leading figure in the new major economy. His publication included the influential book Overal economyHe participated in his authorship with Rudi Durnbush and Richard Starks.

He joined the World Bank in 1988 before becoming the second official in the International Monetary Fund in 1994, who served during the era of Michelle Camedisus. His session in the fund proved that it is a turbulent period with the emerging market crises eruption in the 1990s.

He later moved to Citigroup, where the vice president worked. Fisher, a dual -Israeli citizen, joined the Bank of Israel in 2005, where he helped direct the country through the unrest of the global financial crisis that erupted later in the contract.

He joined the Federal Reserve in 2014, where he served on the plate under Janet Yellen. His session at the Federal Reserve was distinguished by internal disputes over interest rates, as Fischer called for a more honest approach to policy than Yalin.

After the Trump administration took power in 2017 it was Vocal About the dangers of financial organization that are in the opposite direction, which he described as “very dangerous and very short.”

“I had a picture of the global economy in which the United States was an anchor, not a source of volatility,” Fischer said at the time.

Fischer resigned from his position in the Federal Reserve in late 2017, more than six months before this position, saying in a letter to President Donald Trump that his departure was for personal reasons.

At that time, Lawrence Samars, former US Treasury Secretary, books In FT that “through his education, writing, presentation and leadership had a great impact on global money like anyone in the last generation.”

The chief economist of the International Monetary Fund, Olivier Blancard, praised Fischer on Sunday, saying: “He was a prominent economic expert and a prominent political maker, but more importantly, a great person.”