CNBC’s new series of events featuring candid conversations about the coming together of business and policy.

Our CNBC journalists and guest speakers will discuss ways that the public and private sectors can collaborate to grow the economy and create jobs.

Capital Exchange isn’t about the vagaries of policy making or politics of the moment; rather, it is focused on the real-world effects of policies past, present and future on business and the economy.


THE NEW-LOOK FED

Tuesday, May 1^st 7:30 - 9:30 am
Park Hyatt New York

Stanley Fischer Vice Chair, Board of Governors, 2014–2017 Federal Reserve System

Stanley Fischer took office as a member of the Board of Governors of the Federal Reserve System on May 28, 2014, to fill an unexpired term ending January 31, 2020. He was sworn in as vice chairman of the Board of Governors on June 16, 2014. He resigned on October 13, 2017.

Prior to his appointment to the Board, Dr. Fischer was governor of the Bank of Israel from 2005 through 2013.

From February 2002 to April 2005, Dr. Fischer was vice chairman of Citigroup. Dr. Fischer served as the first deputy managing director of the International Monetary Fund from September 1994 through August 2001. From January 1988 to August 1990, he was the chief economist of the World Bank.

From 1977 to 1999, Dr. Fischer was a professor of economics at the Massachusetts Institute of Technology. From 1992 to 1995, he was the Elizabeth and James Killian Class of 1926 professor. From 1973 to 1977, Dr. Fischer was an associate professor of economics at MIT. Prior to joining the MIT faculty, Dr. Fischer was an assistant professor of economics and a postdoctoral fellow at the University of Chicago.

Dr. Fischer has published many articles on a wide variety of economic issues, and he is the author and editor of several scholarly books. He has been a fellow at the Guggenheim Foundation, the American Academy of Arts and Sciences, and the Econometric Society, as well as a research associate at the National Bureau of Economic Research and an honorary fellow at the London School of Economics.

Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his BSc and MSc in economics from the London School of Economics. He received his PhD in economics from the Massachusetts Institute of Technology in 1969. 

Dr. Fischer is married with three adult children. 

Richard W. Fisher President, 2005-2015 Federal Reserve Bank of Dallas

Richard W. Fisher served as the twelfth president of the Federal Reserve Bank of Dallas from April 4, 2005, to March 19, 2015. Fisher was born in Los Angeles, California. He spent his childhood years in Southern California, Mexico City, and Miami, Florida.

Fisher attended the US Naval Academy from 1967 to 1969, graduated with honors from Harvard University with a degree in economics in 1971, studied Latin American politics at Oxford from 1972 to 1973, and received a master’s degree in business administration from Stanford University in 1975.

Fisher began his career in 1975 at the private bank of Brown Brothers Harriman & Co., where he specialized in fixed income and foreign exchange markets. He became assistant to the secretary of the Treasury during the Carter administration, working on issues related to the dollar crisis of 1978–79. He then returned to Brown Brothers to found their Texas operations in Dallas.

In 1987, Fisher created Fisher Capital Management and a separate funds-management firm, Fisher Ewing Partners. He sold his controlling interests in both firms when he rejoined the government in 1997.

From 1997 to 2001, Fisher was deputy US trade representative with the rank of ambassador. He oversaw the implementation of NAFTA and various agreements with Vietnam, Korea, Japan, Chile, and Singapore. He was a senior member of the team that negotiated the bilateral accords for China's and Taiwan's accession to the World Trade Organization.

Fisher is former vice chairman of Kissinger McLarty Associates, a strategic advisory firm chaired by former Secretary of State Henry Kissinger.

During his time at the Dallas Fed, Fisher has focused the Reserve Bank’s work on prominent economic policy issues.  The Reserve Bank’s Globalization and Monetary Policy Institute was established in 2007 with the purpose of better understanding how the process of deepening economic integration between the countries of the world, or globalization, alters the environment in which US monetary policy decisions are made.

Fisher has also positioned the Reserve Bank at the forefront of the debate on “Too Big to Fail” financial institutions, advocating for an environment that allows the largest banks to fail and returns market discipline to the banking system.

Throughout his career, Fisher has served on numerous for-profit and not-for-profit boards. He also has maintained his academic interests, teaching graduate courses and serving on several university boards. Fisher serves on Harvard University's Board of Overseers, one of the university's two governing boards. He was a Weatherhead Fellow at Harvard in 2001, is an honorary fellow of Hertford College at Oxford University, and is a fellow of the American Academy of Arts and Sciences.

A first-generation American, Fisher is equally fluent in Spanish and English. In October 2006, he received the Service to Democracy Award and Dwight D. Eisenhower Medal for Public Service from the American Assembly. In April 2009, he was inducted into the Dallas Business Hall of Fame.