Fischer resignation adds to uncertainty over Federal Reserve policy

Investing.com - Federal Reserve Vice Chairman Stanley Fischer will resign in mid-October, he said Wednesday.He said his resignation was due to personal reasons.His term as vice chairman was due to end in June 2018.The resignation adds to uncertainty over the Fed's leadership and policies next year.Fischer’s departure gives the White House a larger opportunity to reshape the Fed’s leadership, but it also adds to the challenge it faces in managing the transition without roiling markets.Fed Chair Janet Yellen’s first term is due to expire in early February.President Donald Trump has said he was considering nominating his top economic adviser Gary Cohn as a potential successor.But recent reports have indicated that Trump is now unlikely to nominate Cohn.Policy decisions beyond December will now be clouded by uncertainty,and that uncertainty could increasingly weigh on markets.