Washington, Sha'ban 15, 1435, Jun 13, 2014, SPA -- The U.S. Senate on Thursday confirmed Stanley Fischer to serve as vice chairman of the Federal Reserve (Fed), a role that gives him a powerful position to shape U.S. monetary policy. Fischer, the former chief of the Bank of Israel, won confirmation last month as a member of the Fed board. Fischer is a widely respected economist who is expected to be an important ally of new Fed Chair Janet Yellen as she crafts a strategy to withdraw the central bank's extraordinary support for the economy. --SPA 11:14 LOCAL TIME 08:14 GMT www.spa.gov.sa/w