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The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System.It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States.
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States.It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.
The Federal Reserve System is composed of five parts: [3] [7] The presidentially appointed Board of Governors (or Federal Reserve Board), an independent federal government agency located in Washington, D.C.
The board of governors is one of three key pillars making up the broader Federal Reserve System, along with the 12 regional reserve bank presidents and the Federal Open Market Committee (FOMC).
Wayne D. Angell (born June 28, 1930) is an American economist, politician and professor who served as a member of the Federal Reserve Board of Governors from 1986 to 1994. [ 1 ] Angell was born in Liberal, Kansas .
Roger W. Ferguson Jr. (born October 28, 1951, in Washington, D.C.) is an American economist, attorney and corporate executive who served as the 17th vice chairman of the Federal Reserve from 1999 to 2006. Prior to his term as vice chairman, Ferguson served as a member of the Federal Reserve Board of Governors, taking office in 1997. He was the ...
Shortly before and after joining the Federal Reserve Board of Governors, Waller was viewed as a monetary policy "dove", favoring expansionary policy and low interest rates. [23] He worked closely with the St. Louis Federal Reserve bank's president, James B. Bullard, who was a vocal supporter of lower interest rates in 2019. [6]
Kevin Maxwell Warsh (born April 13, 1970) is an American financier and bank executive [1] [2] [3] who served as a member of the Federal Reserve Board of Governors from 2006 to 2011.