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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.
The charter of each Federal Reserve Bank is established by law and cannot be altered by the member banks. Federal Reserve Bank stock cannot be sold or traded, and member banks do not control the Federal Reserve Bank as a result of owning this stock. They do, however, elect six of the nine members of the Federal Reserve Banks' boards of ...
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. [ 1 ]
[1]. Left to Right: William J. McDonough (1993–2003), William C. Dudley (2009–2018), Paul Volcker (1975–1979), E. Gerald Corrigan (1985–1993), Timothy Geithner (2003–2008) The ninth president of the New York Fed, Timothy Geithner, who subsequently served as Secretary of the Treasury Paul Volcker, the fifth president of the New York Fed and later Chairman of the Federal Reserve
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.
Jeffrey R. Schmid (born 1958/1959) [1] is the President of the Federal Reserve Bank of Kansas City.He assumed office on 21 August 2023, succeeding Esther L. George. [2]He previously served as president of the Southwestern Graduate School of Banking at Southern Methodist University, held unspecified positions within the FDIC, [2] and served as the CEO of Mutual of Omaha Bank.
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. He was nominated for the position by President Joe Biden in January 2022, and was confirmed by the Senate in May ...