Former head of Israel's central bank a contender for Federal Reserve post

The White House is leaning toward nominating the former leader of Israel's central bank to become second-in-command at the Federal Reserve, according to people familiar with the appointment. Stan Fischer helped Israel successfully navigate the global financial crisis, staving off the type of deep recession and muddled recovery that has plagued the United States and Europe. Fischer stepped down from that post this summer after eight years in the job. He has dual citizenship -- U.S. and Israeli.