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.
The U.S. Senate confirmed former Bank of Israel Governor Stanley Fischer to the Federal Reserve Board of Governors, while postponing a separate vote on his nomination to be vice chairman of the central bank.
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.
Eugene F. Fama, Robert J. Shiller and Lars Peter Hansen shared the 2013 Nobel Prize in Economic Sciences for at times conflicting research on how financial markets work and assets such as stocks are priced.
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.
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.