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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 .
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.
President Donald Trump, a Republican, nominated Nellie Liang, a Democrat, to the Federal Reserve Board of Governors. President Donald Trump, a Republican, appointed Susan Paradise Baxter, a Democrat, as a U.S. federal judge on the United States District Court for the Western District of Pennsylvania.
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.
Jerome Hayden "Jay" Powell (born February 4, 1953) is an American investment banker and lawyer serving since 2018 as the 16th chair of the Federal Reserve.Powell is expected to remain in his position during the second Presidency of Donald Trump at least through 2026.
Philip Nathan Jefferson (born 1961/1962) [1] is an American economist who has been serving as 23rd Vice Chair of the Federal Reserve since September 2023. He has been a member of the Federal Reserve Board of Governors since 2022.
Members are appointed by the president, approved by the Senate Banking Committee and then the broader Senate before coming to the Fed. The regional reserve bank presidents, on the other hand, have ...