Stanley Fischer update

Formerly a famous macroeconomist at MIT, he now runs the central bank of Israel and he just won a Euromoney award for best central banker of the year.

Jacob Frenkel argues that Fischer's shekel-selling policies are unsustainable.  Here is another account.  Israel foreign currency reserves now exceed $66.3 billion, in part because of Fischer's decision to buy up so many dollars and keep down the value of the shekel.

Here, Fischer complains that the Israeli economy is dominated by a few families and excessively concentrated wealth.  He wants the government to remedy this situation, although it is hard to tell which policy he is proposing.

Comments

Is the "shekel" the funniest named currency of all time? Jews should consider going into comedy.

"...hard to tell which policy he's proposing"
Oi vey! I picture Robin hood with a Yarmulke. Meanwhile, back at the Kibbutz...

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