Renowned macroeconomist and Governor of the Bank of Israel, Stanley Fischer, and his wife Rhoda Fischer, shared a vast range of experiences in a candid conversation with MPP students on 7 November.

At the helm of the IMF during the financial crises in Asia and Russia 1997-8, the former First Deputy Managing Director explained the way the IMF works in crises. He highlighted the delicate political environment within which the institution works. It must contribute to international financial stability but also avoid problems of moral hazard. It seeks to assist governments in crisis but sometimes those very same politicians find it convenient to blame the IMF.

After a very short stint in the private sector, Stanley Fischer was asked to consider becoming Governor of the Central Bank of Israel. He shared with the class his experience of being offered, considering and finally accepting the role. An extraordinary commitment to public service shone throughout his talk, yet he modestly advised the Class of 2012 to ‘take interesting opportunities, as they won’t come round again’. The class were truly delighted also to hear from Rhoda Fischer about balancing public duties and family life.

It was not just informative, but also struck a personal chord as he and his wife Rhoda spoke about balancing family with the duties of a public official, something that we rarely get to hear about,’ said MPP student Uttara Narayan. ‘That made it a truly inspirational event.

Professor Stanley Fischer is the Governor of the Bank of Israel. During his career, he has held positions in both the private and public sectors including Vice-Chairman of Citigroup, First Deputy Managing Director of the International Monetary Fund, Head of the Department of Economics at Massachusetts Institute of Technology (MIT), and Chief Economist at the World Bank. He is a member of the Blavatnik School’s International Advisory  Board.