web analytics
September 18, 2014 / 23 Elul, 5774
At a Glance
News & Views
Sponsored Post
Apartment 758x530 Africa-Israel at the Israel Real Estate Exhibition in New York

Africa Israel Residences, part of the Africa Israel Investments Group led by international businessman Lev Leviev, will present 7 leading projects on the The Israel Real Estate Exhibition in New York on Sep 14-15, 2014.



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
Sen. Ted Cruz acts senate for unanimous consent to pass the Expatriate Terrorist Act. Sept. 18, 2014.
Ds Reject Voting to Strip Citizenship From US Jihadi ISIS Volunteers
Latest News Stories

Terrorists from Shuafat Refugee Camp opened fire at a home in Pisgat Ze’ev…

Iron Dome Missile Defense System protecting parts of southern Israel.

Defense official do not believe Hamas will actually begin shooting rockets at Israel over the next week or two.

Sen. Ted Cruz acts senate for unanimous consent to pass the Expatriate Terrorist Act. Sept. 18, 2014.

Cruz sought but failed to obtain senate’s unanimous consent to pass Expatriate Terrorist Act of 2014.

Terror tunnel work accident leaves 1 terrorist dead.

The world’s oldest known Jewish prayer book, or siddur, was displayed for the first time to the general public at the Bible Lands Museum.

The cabinet is set to vote on the path of the security fence which would cut off Gush Etzion from Jerusalem as well as be a major eyesore.

UK Muslims are calling on ISIS to release British aid volunteer Alan Henning, whose life is now threatened by the group.

Border Police officers blocked an axe-toting Arab man from carrying out a terror attack near Jerusalem.

A Code Red incoming rocket alert was sounded for Gaza Belt and Ashkelon Coastal communities.

Harvard law professor Alan Dershowitz says former Pres. Bill Clinton is wrong about PM Netanyahu.

A massive sting operation hauled in 15 suspects and foiled a plot by ISIS to hold a public beheading in Australia.

A 3-hour strike at Ben Gurion International Airport at check-in counters has delayed thousands.

Have you seen Menachem Bodner’s twin brother Jeno, or Jolli Gottesman? He’s out there.

Iran scorns as “ridiculous” a US-led anti-ISIS coalition without boots on the ground.

A prison inmate on death row in Connecticut is demanding kosher food, though he’s not really Jewish.

More Articles from Tzvi Ben-Gedalyahu
Establishment media report PA economy  a disaster. Above: Gourmet restaurant in Ramallah Mall.

Mainstream media report “all the news to print that fits” the anti-Israeli agenda.

Arsonists set fire to a Brussels synagogue on Tuesday, that was previously firebombed in 2010, but Jewish officials are not ready to declare the incident as anti-Semitic. The wife and two children of the synagogue’s caretaker, who was not present at the time of the arson, suffered slight smoke inhalation after the fire broke out […]

The higher rate is good news for Israelis with dollar accounts and for U.S. tourists.

“Jewish teams’ are more proud to win than proud to be Jewish.

Oskar Groening’s defense is that he only was cog in the Nazi death machine.

The US warns people to buy gas masks if visiting, Israel warns of world-wide anti-Semitism.

Just to make the score even, police also arrested a Jew

Israelis in the Golan Heights are caught between a rock and a hard place.

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: