Stanley Fischer is gone from the Federal Reserve

Stanley Fischer is gone from the Federal Reserve.

Fischer submitted his letter of resignation on Wednesday as a member of the Board of Governors of the United States central bank and Vice Chairman. He will step down from his post by October 13, 2017.

In his resignation letter, Fischer confirmed that he is leaving the Fed for “personal reasons.”

“Stan’s keen insights, grounded in a lifetime of exemplary scholarship and public service, contributed invaluably to our monetary policy deliberations. He represented the Board internationally with distinction and led our efforts to foster financial stability,” said Fed Chair Janet Yellen in a statement. “I’m personally grateful for his friendship and his service. We will miss his wise counsel, good humor, and dry wit.”

Fischer was your typical Keynesian central banker crony – he thought negative interest rates were successful. He was vice chairman at CitiGroup, governor of the Bank of Israel, managing director of the International Monetary Fund (IMF) and chief economist at the World Bank.

It won’t be much of a loss.