Stanley Fischer steps down from Fed citing ‘personal reasons’

President Donald Trump has yet another spot to fill on the Federal Reserve.

Stanley Fischer, the Fed’s 73-year-old vice chairman, said Wednesday that he will be stepping down next month, citing “personal reasons.”

Fischer‘s term as vice chair was set to expire in June 2018 and his board term was slated to end in January 2020.

“It has been my great privilege to serve on the Federal Reserve Board and, most especially to work alongside Chair Yellen as well as many other dedicated and talented men and women throughout the Federal Reserve System,” Fischer wrote in his resignation letter.

Fischer joined the Fed in March 2014 after an eight-year term as the governor of the Bank of Israel. He also did stints at Citigroup, the International Monetary Fund and the World Bank.

Fed Chair Janet Yellen said Fisher would be missed.

“Stan’s keen insights, grounded in a lifetime of exemplary scholarship and public service, contributed invaluably to our monetary policy deliberations,” Yellen said in Wednesday’s statement.

“I’m personally grateful for his friendship and his service. We will miss his wise counsel, good humor, and dry wit,” Yellen said.

Trump is expected to nominate a Fed chair in February when Yellen’s term expires. It is possible that Trump will reappoint Yellen but National Economic Council Director Gary Cohn has also been floated as a possibility.

With Fischer’s expected exit on Oct. 13, there will be only three members on the seven-person board. In July, Trump nominated Randal Quarles to the board.