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Naureen Hassan is an American finance executive who serves as the president of UBS Americas. [1] [2] She previously served as the first vice president and chief operating officer of the Federal Reserve Bank of New York.
The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve, after the chair of the Federal Reserve. In the absence of the chair, the vice chair presides over the meetings Board of Governors of the Federal Reserve System .
Federal Reserve Chairs (left to right): Janet Yellen, Alan Greenspan, Ben Bernanke, and Paul Volcker.Photo taken 1 May 2014, when Yellen was Chair. As stipulated by the Banking Act of 1935, the Chairman is chosen by the president from among the sitting governors to serve four-year terms with the advice and consent of the Senate.
Members of the board must first be nominated by the president, questioned and approved by the Senate Banking Committee and then confirmed by the broader U.S. Senate before coming to the Fed.
The areas of the bank involved in business report to both the president and first vice president of the New York Fed. They in turn report to the Board of Directors of the New York Fed. [5] The president of the New York Fed is a permanent member of the Federal Open Market Committee, which is responsible for open market operations. [6]
The Federal Reserve began cutting the federal funds rate by 0.25% after its December 11, 2007 meeting, disappointing many investors who had expected a bigger cut; the Dow Jones Industrial Average dropped nearly 300 points that day. The Fed slashed the rate by 0.75% in an emergency action on January 22, 2008, to assist in reversing a significant ...
Two vice presidents—George Clinton and John C. Calhoun—served under more than one president. The incumbent vice president is JD Vance, who assumed office as the 50th vice president on January 20, 2025. [3] [4] There have been 50 U.S. vice presidents since the office was created in 1789. Originally, the vice president was the person who ...
The chair, vice chair, and vice chair for supervision are appointed by the president from among the sitting members of the board to serve a four-year term and they can be renominated as many times as the president chooses, subject to Senate confirmation each time, until their terms on the Board of Governors expire.