Smart Cookie
Wikipedia
***
"President Obama on Friday took another significant step toward making his mark on the powerful Federal Reserve, announcing he will tap Stanley Fischer, the former governor of Israel's central bank and a mentor to many of today's top minds in economics, to serve as the Fed's vice chairman. Only days after the Senate confirmed Obama's nominee to lead the Fed, current Vice Chair Janet L. Yellen, the president also announced he would nominate Lael Brainard, a longtime Democratic economic policymaker and the Treasury Department's former top diplomat, to serve as a Fed governor. He also is nominating Jerome Powell, a current Fed governor who served in George H.W. Bush's administration, for a second term." Zachary A. Goldfarb in The Washington Post.
How Yellen got Fischer to say yes. "As senior White House officials were putting together a list of potential vice chairman candidates last year, they concluded there was no way Fischer, a former Bank of Israel governor who had come close to being on the short list for the Fed chairmanship, would want the deputy's job, according to a person familiar with the decision process. They decided they wouldn't bother asking. Yellen, who was confirmed as Fed chairman this week, enthusiastically told a group of Obama's senior aides that not only did she want Fischer at the Fed, she had already reached out to him and sold him on the idea...[Fischer] told White House officials he was moved by Yellen's impassioned pitch and was sold on it in large part because it was her idea, the person said."Julianna Goldman in Bloomberg.