Ex-Federal Reserve economist named as Israeli central banker

An Israeli flag flutters outside the Bank of Israel building in Jerusalem August 7, 2013. REUTERS/Ronen Zvulun

JERUSALEM, Oct 5 (Reuters) - Israel's cabinet on Tuesday approved the appointment of Naomi Feldman to the Bank of Israel's monetary policy committee, the central bank said.

Feldman, an associate economics professor at Hebrew University, was a senior economist at the U.S. Federal Reserve Board of Governors from 2011-2018 and served on the President’s Council of Economic Advisers in the United States.

She will replace Reuben Gronau, who is stepping down from the panel after serving on it for 10 years. Her appointment will take effect on Oct. 9, meaning Feldman's first monetary policy meeting will be on Nov. 22.

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"Prof. Feldman has rich and relevant professional experience, and I am sure that she will contribute considerably to the committee’s work," Bank of Israel Governor Amir Yaron said in a statement.

The MPC will next decide on interest rates this Thursday.

The cabinet also voted for Moshe Hazan and Zvi Hercowitz to serve additional four-year terms on the committee.

Since 2010, the MPC has had six members - the governor, deputy governor, another Bank of Israel employee and three external appointees chosen by the government.

Feldman holds advanced economics degrees from the University of Illinois and University of Michigan, and has research interests in public finance, taxes, and behavioural economics, the Bank of Israel said.

In 2004, she served as an advisor in the Monetary Assessment and Strategy Division at the Bank of England.

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Reporting by Steven Scheer; Editing by Catherine Evans

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