Stanley Fischer has submitted his resignation as vice-chairman of the Federal Reserve, adding to the turbulence at the US central bank as it faces a host of vacancies at senior levels.

In a letter to President Donald Trump, the former Bank of Israel chief said he would leave in October for “personal reasons”, which he did not detail. The 73-year-old’s term, which began in May 2014, was not due to expire until June next year.

Mr Fischer’s departure comes amid a highly uncertain period for the Fed’s board of governors, leaving up to four of its seven seats vacant. It offers another opportunity for Mr Trump to recast the policy and direction of the central bank — as well as deepening the uncertainty within financial markets about its likely policy stance.