Bank of Israel Governor Stanley Fischer celebrated the reconstruction of a South American synagogue transported to Jerusalem, giving tours in December to admiring donors. Yesterday it was Fischer who received plaudits for rebuilding, in this case the central bank and the economy it oversees.
Bank of Israel Governor Stanley Fischer, credited by many economists for steering Israel through the global financial crisis, said he will step down in the middle of his second term. Bonds, stocks and the shekel fell.
Over the course of 2012, the U.S. economy rebounded with all the vitality of a slug waking from a long nap. In debt-strapped, recession-hit Europe, investors fret about a Spanish bailout, a Greek default and whether the euro itself will shatter.
As financial turmoil in Europe threatened to overwhelm the region’s banks last November, Bank of England Governor Mervyn King arranged conference calls with the world’s top central bankers to decide what steps to take.
Alvin E. Roth and Lloyd S. Shapley shared the 2012 Nobel Prize in Economic Sciences for their work on matching supply and demand for everything from single men and women to organ donors and their recipients.
Natural gas prices that slumped to a 10-year low this month could save U.S. consumers $16.5 billion on home energy bills over the course of a year, according to a senior economist at the U.S. Federal Reserve.
Judging from the preponderance of his utterances, presidential candidate Mitt Romney has a classic Republican approach to financial regulation: Get government out of the way, because markets are inherently wise.