web analytics
August 31, 2014 / 5 Elul, 5774
At a Glance
News & Views
Sponsored Post
Jerusalem Mayor Nir Barkat (L) visits the JewishPress.com booth at The Event. And the Winners of the JewishPress.com Raffle Are…

Congratulations to all the winners of the JewishPress.com raffle at The Event



Prof. Yaakov Frankel to Return as Head of Bank of Israel

The money markets can relax. There is economic growth after Stanley Fischer, who has decided that Israel is not his home. Prof. Yaakov Frenkel, who once headed the Bank of Israel, is returning.

Prof. Yaakov Frenkel has been tapped to return to his old post as Governor of the bank of Israel, replacing Stanley Fischer

Prof. Yaakov Frenkel has been tapped to return to his old post as Governor of the bank of Israel, replacing Stanley Fischer
Photo Credit: Flash 90

Prof. Yaakov Frenkel, who headed the Bank of Israel from 1991-2000, will return to his old job and replace outgoing Bank Governor Stanley Fischer, who is going back the United States with his social and political agendas he tried to impose on Israel.

Prime Minister Binyamin Netanyahu and Finance Minister Yair Lapid’s decision to put Frenkel at the helm of the Bank is conditional on the approval of a committee headed by retired Supreme Court Justice Yaakov Turkel. No opposition is expected.

Frenkel won the Israel Prize in economics in 2002 and has been chairman of JP Morgan since 2009. Netanyahu had wanted to give the job to Harvard Prof. Elhanan Helpman, an Israeli, but he refused, as he did seven years ago when the Prime Minister brought Fischer overseas.

“Frenkel brought the American mentality of managing monetary policy to the Bank, which in we estimate also eventually brought the search for a foreign Bank governor like Fischer,” Alpha Platinum Mutual told the Globes  business newspaper.

Frenkel stood his ground against populist opinion when he headed the bank 15 years ago.

Fischer has been widely praised for his management, but he also has proven to be an opportunist, taking the job as Governor with a lot of fanfare by making aliyah, only to turn his back and go back to the United States in before the middle of his second term of office. He reportedly would like to replace Ben Bernanke as head of the Federal Reserve Bank even though his age virtually puts him out of the running.

After Fischer was firmly in the saddle at the Bank, he often used the economy as an excuse to advertise thinly disguised support for a Palestinian Authority state based on all or most of its territorial demands.

He also frequently criticized the Haredi community for not participating more in the job market.

More than a few critics have warned that Fischer is leaving behind him a troubled housing market and that he did not take enough action to bring down the price of housing.

About the Author: Tzvi Ben Gedalyahu is a graduate in journalism and economics from The George Washington University. He has worked as a cub reporter in rural Virginia and as senior copy editor for major Canadian metropolitan dailies. Tzvi wrote for Arutz Sheva for several years before joining the Jewish Press.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Prof. Yaakov Frankel to Return as Head of Bank of Israel”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
US Marines walk a city street in Fallujah, heavily damaged by the fighting. (2004)
Netanyahu Says Making Gaza ‘Israel’s Fallujah’ Was Too High a Price
Latest News Stories
US Marines walk a city street in Fallujah, heavily damaged by the fighting. (2004)

Israel is better off with a weak Hamas rather than a dead Hamas, for the time being, says Netanyahu.

Two mortars landed close to the Israel-Syrian border/cease-fire lines in the Eastern Golan Heights

Growing anti-Semitism is Israel;s fault according to a chaplain at Yale.

If Israel would just not exists, and if Jews would stop being Jewish, there would be no anti-Semitism in the world.

Jewish comedienne Joan Rivers .

Doctors are hopeful but worried. Her daughter Melissa is an “emotional wreck.”

We wish him a speedy recovery and a lifetime of laryngitis.

The FIlipino UN troops were successfully extracted by Irish UN troops from the Syrian rebel siege.

Joan Rivers, 81, is in an induced coma following throat surgery on Thursday. Rivers suffered a heart attack during surgery.

With new neighbors along our Syrian border, we thought we’d check out what they’re saying and what’s going on…

We wish a speedy recovery to Joan Rivers, the straight-shooting Jewish comedienne whose exact analysis of the war was, “Hamas started it.”

An IDF soldier who was critically injured last week by a rocket that hit Ashdod died from his wounds today. He is Israel’s 71st casualty in the war. Sergeant Natanel Maman, 21, from Gan Yavne, an Ordnance Corps soldier, was critically injured by a rocket that hit Ashdod last Friday. He was promoted posthumously from […]

More than 200,000 Muslims live in Michigan. Fifty of them showed up for a protest against ISIS.

Sofer, who may have died from dehydration after falling in a ravine while hiking, is being buried in Beit Shemesh.

The Boycott Israel movement, so far, is more bark than bite.

The bad news is that ISIS and Al Qaeda are on the Syrian Golan. The good news is that every terrorist in Syria is killing each other.

Netanyahu gets support from Congressmen on House Armed Services Committee

Some Chareidi entertainers thrilled the crowd on Jerusalem’s Ben Yehuda Street with some Jewish entertainment.    

More Articles from Tzvi Ben-Gedalyahu
US Marines walk a city street in Fallujah, heavily damaged by the fighting. (2004)

Israel is better off with a weak Hamas rather than a dead Hamas, for the time being, says Netanyahu.

Jewish comedienne Joan Rivers .

Doctors are hopeful but worried. Her daughter Melissa is an “emotional wreck.”

We wish him a speedy recovery and a lifetime of laryngitis.

We wish a speedy recovery to Joan Rivers, the straight-shooting Jewish comedienne whose exact analysis of the war was, “Hamas started it.”

More than 200,000 Muslims live in Michigan. Fifty of them showed up for a protest against ISIS.

Sofer, who may have died from dehydration after falling in a ravine while hiking, is being buried in Beit Shemesh.

The Boycott Israel movement, so far, is more bark than bite.

The bad news is that ISIS and Al Qaeda are on the Syrian Golan. The good news is that every terrorist in Syria is killing each other.

Printed from: http://www.jewishpress.com/news/prof-yaakov-frankel-to-return-as-head-of-bank-of-israel/2013/06/23/

Scan this QR code to visit this page online: