File - In this Oct. 17, 2016 file photo, Stanley Fischer, vice chairman of the Federal Reserve board of governors, speaks to the Economic Club of New York. (AP Photo/Mark Lennihan)
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Federal Reserve Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the seven-member Fed governing board.Fischer, 73, was a close confidant of Fed Chair Janet Yellen, whose own term ends in FebruaryFischer has been a member of the Fed's Board of Governors since May 2014 .In a letter to the Fed, he said his resignation would occur on or around Oct. 13 .His resignation will provide President Donald Trump with another opportunity to reshape the Fed. Diane Swonk, chief economist at DS Economics and a longtime Fed watcher, said Fischer's resignation could make it more likely that the Trump White House will simply re-nominate Yellen, rather than naming a new Fed chair.
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