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The following is a list of past and present chairs of the Board of Governors of the Federal Reserve System. A chair serves for a four-year term after appointment, but may be reappointed for several consecutive four-year terms. Since the Federal Reserve was established in 1914, the following people have served as chair. [a] [18] #
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 .
On November 2, 2017, President Donald Trump nominated Powell to serve as the chair of the Federal Reserve, replacing Janet Yellen at the helm of the central bank. [40] On December 5, the Senate Banking Committee approved Powell's nomination to be chair in a 22–1 vote, with Senator Elizabeth Warren casting the lone dissenting vote. [41]
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).
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Janet Louise Yellen (born August 13, 1946) is an American economist, currently serving as the 78th United States secretary of the treasury since January 26, 2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018.
Federal Reserve Chairman Jerome Powell poses for photos with Fed Governor Lael Brainard (L) at the Federal Reserve Bank of Chicago, in Chicago, Illinois, U.S., June 4, 2019.
Federal Reserve Chair Jerome Powell said the central bank's independence benefits the nation's economy. (Anna Moneymaker/Getty Images) For over 70 years, the US central bank has operated as an ...