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NEW YORK — Stanley Fischer has worked for much of his professional life to improve economic policy in the developing world. Now he is on the verge of a new role in a country with plenty of economic problems of its own: the United States.
Fischer, nominated by President Obama to serve as vice chairman of the Federal Reserve, is likely to move quickly through a confirmation process that begins with a hearing before the Senate Banking Committee on Thursday morning.
Assuming Fischer successfully negotiates that gantlet, he would join Janet L. Yellen, the Fed’s new chairwoman, in the difficult work of figuring out how much more the Fed can do to help the economy recover from the Great Recession. Yellen proposed his selection to the White House.