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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).
The FOMC is made up of 12 members: the seven board of governors, the president of the regional New York Fed and four other Reserve Bank presidents located throughout the country.
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's board of governors along with the Federal Open Market Committee (FOMC) are consequently the primary arbiters of monetary policy in the United States. The U.S. Congress has established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term ...
To lead the Federal Reserve System, the act established the Federal Reserve Board of Governors, members of which are appointed by the president. The 1933 Banking Act amended the Federal Reserve Act to create the Federal Open Market Committee, which oversees the Federal Reserve's open market operations. A later amendment requires the Federal ...
Fed Chairman Jerome Powell answers a question at a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in ...
Robert P. Black, then president of the Federal Reserve Bank of Richmond, urged the Federal Open Market Committee to focus on inflation to take advantage of the fact that "everybody thinks that the administration, Congress, and the Federal Reserve are all committed to fighting inflation as a primary target." The Fed did indeed begin to tighten ...
The Federal Reserve meets for its second two-day rate-setting session of 2025 on Tuesday, March 18, and Wednesday, March 19, 2025. At the end of its Federal Open Market Committee session on ...