Stanley Fischer, vice chair of the Federal Reserve, announced he will resign in mid-October, while a question remains over whether Janet Yellen will be reappointed as chair when her term ends in January. Fischer’s departure leaves the seven-member board with as few as three sitting members, creating a vacuum of power and an unprecedented opportunity for President Donald Trump to reshape America’s central bank . Wharton finance professor Krista Schwarz, Wharton legal studies and business ethics professor Peter Conti-Brown, and Sebastian Mallaby, senior fellow for international economics at the Council on Foreign Relations, joined the Knowledge at Wharton show  on Wharton Business Radio on SiriusXM channel 111 to discuss what lies ahead for the Fed. (Listen to the full podcast using the player at the top of this page.) The following are four key points from the conversation. Fischer’s departure can be seen as a watershed moment in American monetary policy.…