As Yellen's current term expires in February next year, Trump has also begun the search for the next Fed Chair.
In a note to clients on Wednesday, Paul Ashworth, chief USA economist at Capital Economics, wrote that Fischer's resignation "presumably lowers the odds of [Yellen] being nominated for a second term [as Fed Chair]".
"Accordingly, while Fischer's resignation may not affect the outlook for monetary policy that much, it could mark the beginning, along with the nomination of Randall Quarles to be Vice Chair of Supervision, of a shift toward a Federal Board of Governors that is more amenable to deregulation".
Fischer has been highly influential at the Fed. This latest vacancy comes as Yellen's future leading the central bank remains under considerable doubt. Markets sometimes moved on his comments.
Former President Barack Obama nominated Fischer as vice chair of the Federal Reserve System, the USA central bank, in January 2014. Previously, he was vice chairman of Citigroup Inc. He has worked as a chief economist at the World Bank and taught economics at MIT.
Former Board of Governors member Daniel Tarullo stepped down in April. He helped shape regulatory policy keeping banks in check and accountable, and he stands by the Fed's approach even as Trump considers alternatives. Before that, Fed officials hadn't voted for a rate hike in almost a decade.
"The strength of the financial system is absolutely essential to the ability of the economy to continue to grow at a reasonable rate, and taking actions which remove the changes that were made to strengthen the structure of the financial system is very risky", Fischer said in April.
He said key ministries for more than three years were without a Cabinet minister, which, he added, had never happened. Offered to resign: Uma Bharti: Union minister for Water Resources, River Development and Ganga Rejuvenation .
The proportion of students achieving 5 or more GCSE passes at grades A* to C stands at an unparalleled 77%. GCSE results for A* to C grades have fallen more sharply by 3.8% to 62.8% compared to 66.6% in 2016.
Tensions were already high after his conviction Friday prompted tens of thousands of his worshippers to stage violent protests. On August 28, the Dera head was found guilty of rape on two counts and sentenced to 20 years of imprisonment.
Apple's rumored to launch the smartphone with a button free front facade, following in the Galaxy S8's footsteps. Research firm IDC gave Apple's shares another boost after releasing bullish estimates for the new iPhone .
Scarlett and Wells join a list of suspended players that also include would-be starting wide receiver Antonio Callaway . Seven Florida Gator players have already been suspended for the season opener against a tough MI team.
This is the second time a SM-6 missile has intercepted a medium-range ballistic missile target, according to the MDA. The target was successfully intercepted by SM-6 missiles fired from the USS John Paul Jones .
The Virginia Lottery said a near-record Powerball jackpot has led to skyrocketing ticket sales - except during the solar eclipse. The error by the Massachusetts State Lottery over which store sold the lone winning Powerball ticket is being blamed on nerves.
The storm has affected millions along the Texas and Louisiana Gulf Coast, leaving many without drinking water or livable homes. Arkansas is sending 1,500 National Guardsmen to Texas to help the state as it recovers from Harvey.
Analysts expect a hike of around 5 cents by Friday evening, followed by a further jump of 9 cents on Saturday. That will bring the price up to 132.9 cents a litre, just as families hit the road for the long weekend.
Trump has been a vocal opponent of the deal, which he and his conservative supporters criticize as being too soft on Iran. IAEA officials said they would not help the Trump administration make a false case for abandoning the agreement.
Migrant crisis: European Union court rejects quota challenge
The ECJ said in its ruling that the European Union "was not required to act unanimously when it adopted the contested decision". While Hungary and Slovakia have now failed in their legal challenge to the policy, that doesn't fix the political problem.
Super Eagles Thrash Cameroon 4-0 In Uyo
Gernot Rohr's men are expected to begin preparations for the reverse leg of their 2018 World Cup qualifier against the Indomitable Lions quickly, as the game is billed for Monday evening.
PM Modi reaches China to attend BRICS Summit
The prime minister said he will have the opportunity to meet leaders bilaterally on the sidelines of the BRICS meet. Coincidentally, Myanmar was also the first country that Modi had visited after carrying out his first reshuffle.
Brush fire forces Burbank residents from homes
Both Terrazas and Garcetti said the La Tuna fire was the largest in the city's history in terms of acreage. But he added that the "erratic" winds, which helped spread the fire Friday had subsided by Saturday.
Mom dies in Harvey floodwaters while saving her infant daughter
As Tropical Storm Harvey travels inland toward Louisiana and continues to flood Texas, the death toll too has continued to rise. Authorities said they are not going to release the mother's and child's names until family members and friends are notified.
GOP Tax Cuts Likely to Be Modest Like Bush Reforms
In terms of policy, though, there are signs that the Trump White House is continuing to defer to Republicans in Congress. Tax reform was a major campaign promise for Trump and his Republican allies in Congress past year .
Former Thai premier Yingluck flees ahead of verdict
Former Thai PM Yingluck Shinawatra has fled overseas , sources say, ahead of a verdict in her trial over a rice subsidy scheme. The rice subsidy plan Yingluck oversaw paid farmers about 50 percent more that they would have made on the world market.
US, Canada, Mexico pledge quick work to update NAFTA
Stocks did briefly pare losses after comments from US House Speaker Paul Ryan that a government shutdown was unnecessary. Although many Americans have benefited from NAFTA, Lighthizer said that the agreement has "failed. countless Americans".