Federal Reserve System (Fed) Vice Chairman Fischer Speech

Fed Vice Chairman Speech is always highly anticipated by analysts. The Vice Chairman is appointed by the US President from among the members of the Board of Governors of the Federal Reserve. After that the candidate is approved by the Senate. The longest term of appointment is 14 years. The appointment is reviewed every two years, after which the term continues or a new Vice Chairman is selected.

The Fed's Vice Chairman has access to all information regarding the Fed's policy and expected measures for easing or tightening the monetary policy. The Vice Chairman's speech is the second most significant speech after the Chair's one.

If the speech suggests a possible hike in the Fed's interest rate or tightening of the country's monetary policy during several next meetings, such a speech may lead to a near-term volatility of the dollar towards growth. If the Vice Chairman's rhetoric is cautious or conservative, it rarely affects the exchange rate of the national currency.