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Chair of the Federal Reserve

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No member of the Board of Governors of the Federal Reserve System shall be an officer or director of any bank, banking institution, trust company, or Federal Reserve bank or hold stock in any bank, banking institution, or trust company; and before entering upon his duties as a member of the Board of
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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
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was signed into law on Aug. 23, 1935, which became effective on Feb. 1, 1936. That legislation ceased ex-officio membership, and the active executive officer (previously called the governor of the Federal Reserve Board) became the chairman of the Board of Governors. For purposes of this list, the
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Under the chairman's leadership, the Board's responsibilities include analysis of domestic and international financial and economic developments. The board also supervises and regulates the Federal Reserve Banks, exercises responsibility in the nation's payments system, and administers consumer
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governor has been perceived as the head of the Federal Reserve System since the establishment of that position on August 10, 1914, because the treasury secretary is a political appointee who can be dismissed by the
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The position was established as Governor of the Federal Reserve Board on December 23, 1913; thereafter became Chairman of the Board of Governors of the Federal Reserve System on August 23, 1935; and re-aligned to
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Governors of the Federal Reserve System he shall certify under oath that he has complied with this requirement, and such certification shall be filed with the secretary of the Board.
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as a close second. The president may not have the legal authority to dismiss a chairman before the end of a term, although this assumption has never been tested in court.
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on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other financial issues and meets periodically with the
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became ex officio chairman of the Federal Reserve Board and a member of the Reserve Bank Organization Committee (RBOC); all appointed officeholders, from
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shall preside. In the absence of the chairman and the vice chairman, the Board shall elect a member to act as chairman pro tempore.
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Nomination hearings, conducted in the Senate, for Chairs and Members of the Board of Governors of the Federal Reserve System
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from February 5 to May 23, 2022, while awaiting confirmation by the United States Senate for his second term as chair.
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from March 3 to June 20, 1996, while awaiting confirmation by the United States Senate for his third term as chairman.
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on November 2, 2017, and later confirmed by the Senate. He was subsequently nominated to a second term by President
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may designate to serve as Chairman of the Board for four-year terms with the advice and consent of the
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A fixed term with reappointment for the Chair, then known as Governor, was not added to the
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Public Statements of the Chairs of the Board of Governors of the Federal Reserve System
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The law applicable to the chair and all other members of the board provides (in part):
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By custom, one of the chairman's most important duties is to serve as the chair of the
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Membership of the Board of Governors of the Federal Reserve System, 1914–present
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The fourth branch: the Federal Reserve's unlikely rise to power and influence
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https://www.federalreserve.gov/monetarypolicy/rules_authorizations.htm
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after Yellen became the first female officeholder on February 3, 2014.
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Andrews, Edmund L. (November 5, 2005). "All for a more open Fed".
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The chairman serves a four-year term after being nominated by the
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at any time, whereas the Federal Reserve has been created as an
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is the day of their term expiration, resignation, or retirement.
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chairman of the Board of Governors of the Federal Reserve System
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Chairman of the Board of Governors of the Federal Reserve System
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given here for each officeholder is the day they took the
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the chairman shall preside, and, in his absence, the
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Public–Private Investment Program for Legacy Assets
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Bush 1028: 1025: 1022: 1019: 1010:Alan Greenspan 1004: 997: 993: 992: 983: 980: 977: 974: 959: 952: 948: 947: 942: 939: 936: 935:March 8, 1978 933: 924:William Miller 918: 911: 907: 906: 901: 898: 895: 892: 877: 870: 866: 865: 848: 845: 842: 841:April 2, 1951 839: 824: 817: 813: 812: 807: 804: 801: 798: 783: 776: 772: 771: 768: 765: 762: 747: 740: 736: 735: 730: 727: 724: 721: 706: 699: 695: 694: 692:Herbert Hoover 689: 686: 683: 680: 665: 658: 654: 653: 648: 645: 642: 639: 624: 617: 613: 612: 607: 604: 601: 598: 583: 576: 572: 571: 568: 565: 562: 547: 540: 536: 535: 533:Woodrow Wilson 530: 527: 524: 521: 512:Charles Hamlin 506: 499: 495: 494: 487: 486:230 days 484: 481: 478: 463: 456: 452: 451: 448: 447:Start of term 444: 443: 440: 439:Tenure length 437: 434: 427: 424: 411: 408: 395: 392: 381: 378: 335: 332: 300:Alan Greenspan 287: 284: 265:Alan Greenspan 232: 231: 224: 220: 219: 214: 210: 209: 204: 200: 199: 194: 190: 189: 176: 172: 171: 166: 162: 161: 156: 150: 149: 136: 132: 131: 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2492: 2489: 2486: 2485: 2483: 2481: 2477: 2470: 2469: 2465: 2462: 2459: 2456: 2452: 2449: 2446: 2443: 2440: 2437: 2435: 2432: 2429: 2428: 2424: 2421: 2418: 2415: 2412: 2409: 2406: 2403: 2400: 2397: 2394: 2391: 2388: 2385: 2382: 2379: 2376: 2373: 2370: 2367: 2366:Greenspan put 2364: 2361: 2360: 2356: 2353: 2352: 2348: 2345: 2342: 2339: 2336: 2333: 2330: 2327: 2324: 2321: 2318: 2315: 2312: 2309: 2306: 2303: 2300: 2297: 2294: 2291: 2288: 2285: 2282: 2279: 2276: 2273: 2270: 2267: 2264: 2262: 2259: 2256: 2253: 2251: 2248: 2245: 2242: 2239: 2236: 2233: 2230: 2227: 2224: 2221: 2218: 2215: 2212: 2209: 2206: 2203: 2200: 2197: 2194: 2191: 2188: 2185: 2182: 2181: 2179: 2176: 2171: 2167: 2161: 2158: 2154: 2151: 2150: 2149: 2146: 2144: 2143:Federal funds 2141: 2137: 2134: 2133: 2132: 2129: 2128: 2126: 2124:Federal funds 2122: 2116: 2113: 2111: 2108: 2106: 2103: 2102: 2100: 2096: 2081: 2078: 2076: 2073: 2072: 2070: 2068: 2064: 2058: 2055: 2053: 2050: 2048: 2045: 2043: 2040: 2038: 2035: 2034: 2031: 2027: 2020: 2015: 2013: 2008: 2006: 2001: 2000: 1997: 1990: 1987: 1985: 1982: 1980: 1976: 1973: 1969: 1964: 1963: 1958: 1957: 1949: 1928: 1924: 1921: 1917: 1914:. p. 21. 1913: 1912: 1906: 1902: 1898: 1897: 1876: 1872: 1868: 1862: 1843: 1836: 1830: 1824: 1820: 1815: 1799: 1795: 1791: 1785: 1779: 1773: 1757: 1753: 1749: 1743: 1737: 1733: 1727: 1711: 1707: 1703: 1696: 1680: 1676: 1670: 1654: 1650: 1646: 1640: 1632: 1626: 1610: 1606: 1600: 1584: 1580: 1576: 1570: 1554: 1550: 1546: 1539: 1523: 1519: 1515: 1508: 1492: 1488: 1484: 1478: 1462: 1458: 1452: 1446: 1442: 1436: 1434: 1427: 1423: 1422:5 U.S.C. 1418: 1416: 1411: 1397: 1391: 1384: 1378: 1371: 1365: 1358: 1352: 1345: 1341: 1336: 1332: 1328: 1324: 1320: 1314: 1307: 1303: 1297: 1290: 1286: 1282: 1276: 1269: 1262: 1258: 1248: 1245: 1244: 1240: 1229: 1226: 1220: 1215: 1212: 1206: 1201: 1198: 1187: 1176: 1172: 1169: 1166: 1163: 1160: 1151: 1145: 1142: 1138: 1135: 1134: 1130: 1127: 1124: 1121: 1118: 1109: 1103: 1100: 1096: 1093: 1092: 1089: 1085: 1082: 1079: 1076: 1073: 1064: 1058: 1055: 1051: 1048: 1047: 1044: 1040: 1036: 1032: 1031:Ronald Reagan 1029: 1026: 1023: 1020: 1011: 1005: 1002: 998: 995: 994: 991: 990:Ronald Reagan 987: 984: 981: 978: 975: 966: 960: 957: 953: 950: 949: 946: 943: 940: 937: 934: 925: 919: 916: 912: 909: 908: 905: 904:Richard Nixon 902: 899: 896: 893: 884: 878: 875: 871: 868: 867: 864: 860: 856: 852: 849: 846: 843: 840: 831: 825: 822: 818: 815: 814: 811: 808: 805: 802: 799: 790: 789:Thomas McCabe 784: 781: 777: 774: 773: 769: 766: 763: 754: 748: 745: 741: 738: 737: 734: 728: 725: 723:May 19, 1933 722: 713: 707: 704: 700: 697: 696: 693: 690: 687: 685:May 10, 1933 684: 681: 672: 666: 663: 659: 656: 655: 652: 649: 646: 643: 640: 631: 625: 622: 618: 615: 614: 611: 608: 605: 602: 599: 590: 584: 581: 577: 574: 573: 569: 566: 563: 554: 548: 545: 541: 538: 537: 534: 528: 525: 522: 513: 507: 504: 500: 497: 496: 493: 492: 488: 485: 482: 479: 470: 464: 461: 457: 454: 453: 449: 446: 445: 442:Appointed by 432:(birth–death) 419: 416: 407: 405: 401: 390: 385: 377: 375: 371: 367: 362: 360: 356: 351: 347: 345: 344:vice chairman 341: 331: 329: 325: 321: 317: 309: 305: 301: 297: 292: 283: 281: 277: 273: 272:Jerome Powell 268: 266: 262: 258: 254: 249: 247: 243: 239: 229: 225: 221: 218: 215: 211: 208: 205: 201: 198: 195: 191: 177: 173: 170: 167: 163: 157: 155: 151: 148: 145: 140: 137: 133: 130: 126: 123: 121: 117: 114: 111: 107: 104: 100: 97: 93: 89: 87: 83: 80: 76: 69: 68:Jerome Powell 61: 54: 47: 42: 38: 32: 27: 22: 19: 2793:Central bank 2772:Mary C. Daly 2686:Philadelphia 2639:Lisa D. Cook 2619:Michael Barr 2602: 2572:Janet Yellen 2566:Ben Bernanke 2554:Paul Volcker 2512:Eugene Meyer 2506:Roy A. Young 2479: 2466: 2425: 2357: 2349: 2278:FOMC actions 2232:Regulation Q 2220:Regulation D 2036: 1952: 1926: 1919: 1909: 1879:. Retrieved 1870: 1861: 1849:. Retrieved 1829: 1814: 1802:. Retrieved 1793: 1784: 1772: 1760:. Retrieved 1756:the original 1751: 1742: 1726: 1714:. Retrieved 1710:the original 1705: 1695: 1683:. Retrieved 1669: 1657:. Retrieved 1648: 1639: 1613:. Retrieved 1608: 1599: 1587:. Retrieved 1578: 1569: 1557:. Retrieved 1548: 1538: 1526:. Retrieved 1517: 1507: 1495:. Retrieved 1486: 1477: 1465:. Retrieved 1461:the original 1451: 1395: 1390: 1382: 1377: 1369: 1364: 1356: 1351: 1313: 1296: 1288: 1280: 1275: 1261: 1239:Banks portal 1171:Donald Trump 1129:Barack Obama 1108:Janet Yellen 1088:Barack Obama 1063:Ben Bernanke 1039:Bill Clinton 986:Jimmy Carter 965:Paul Volcker 945:Jimmy Carter 883:Arthur Burns 712:Eugene Black 671:Eugene Meyer 600:May 1, 1923 489: 450:End of term 413: 397: 387: 383: 363: 352: 348: 337: 313: 308:Paul Volcker 304:Ben Bernanke 296:Janet Yellen 276:Donald Trump 269: 250: 237: 235: 193:First holder 90:Mr. Chairman 35:Seal of the 18: 2762:Lorie Logan 2756:Kansas City 2752:Jeff Schmid 2746:Minneapolis 2574:(2014–2018) 2568:(2006–2014) 2562:(1987–2006) 2556:(1979–1987) 2550:(1978–1979) 2544:(1970–1978) 2538:(1951–1970) 2532:(1948–1951) 2526:(1934–1948) 2520:(1933–1934) 2514:(1930–1933) 2508:(1927–1930) 2502:(1923–1927) 2496:(1916–1922) 2490:(1914–1916) 2463:(2020–2021) 2441:(2009–2010) 2422:(2008–2010) 2416:(2008–2010) 2398:(2007–2010) 2290:Nixon shock 2257:(1944–1971) 2202:Pittman Act 2192:(1909–1912) 2175:Antecedents 1881:February 6, 1716:January 16, 1559:November 3, 1528:February 6, 1497:February 5, 1426:§ 5312 1157:(born 1953) 1115:(born 1946) 1070:(born 1953) 1017:(born 1926) 972:(1927–2019) 931:(1925–2006) 890:(1904–1987) 837:(1906–1998) 830:Bill Martin 796:(1893–1982) 760:(1890–1977) 719:(1873–1934) 678:(1875–1959) 637:(1882–1960) 596:(1860–1942) 560:(1864–1930) 519:(1861–1938) 476:(1863–1941) 154:Term length 2855:Categories 2613:Vice Chair 2214:Phelan Act 2105:Beige Book 2042:Vice Chair 1977:, via the 1955:(Q2666591) 1851:January 2, 1823:§ 244 1736:§ 244 1467:August 26, 1445:§ 242 1406:References 1394:Served as 1381:Served as 1368:Served as 1355:Served as 1304:until the 1287:, and the 1281:start date 1164:Incumbent 1150:Jay Powell 491:ex officio 185:1914-08-10 109:Reports to 2840:Sahm rule 2803:Fed model 2736:St. Louis 2696:Cleveland 2591:governors 2378:FIRRE Act 2344:DIDMC Act 2222:(c. 1930) 2136:Bank rate 2067:Banknotes 2047:Governors 1685:April 24, 1175:Joe Biden 630:Roy Young 426:Portrait 320:president 280:Joe Biden 175:Formation 139:President 135:Appointer 95:Member of 65:Incumbent 2808:Fedspeak 2706:Richmond 2676:New York 2208:Edge Act 1875:Archived 1867:"Chairs" 1842:Archived 1804:June 12, 1798:Archived 1679:Archived 1653:Archived 1625:cite web 1583:Archived 1553:Archived 1522:Archived 1491:Archived 1289:end date 1266:be  1183:See also 366:Congress 2828:History 2813:Fed put 2786:Related 2726:Chicago 2716:Atlanta 2589:Current 2453:(2010; 2447:(2009–) 2170:History 2098:Reports 1948:Scholia 1762:June 1, 1659:June 1, 1615:May 24, 1609:Reuters 1589:May 23, 374:Cabinet 223:Website 183: ( 2766:Dallas 2666:Boston 2480:Chairs 2471:(2024) 2430:(2009) 2410:(2008) 2404:(2008) 2392:(1999) 2386:(1991) 2380:(1989) 2374:(1987) 2368:(1987) 2362:(1985) 2354:(1981) 2346:(1980) 2340:(1978) 2334:(1978) 2328:(1978) 2322:(1977) 2316:(1977) 2310:(1975) 2304:(1974) 2298:(1971) 2292:(1971) 2286:(1968) 2274:(1956) 2268:(1951) 2246:(1934) 2240:(1933) 2234:(1933) 2228:(1933) 2216:(1920) 2210:(1919) 2204:(1918) 2198:(1913) 2186:(1908) 1821:  1734:  1549:Forbes 1443:  1424:  422:# 394:Salary 324:Senate 318:, the 306:, and 213:Salary 203:Deputy 144:Senate 2603:Chair 2037:Chair 1845:(PDF) 1838:(PDF) 1253:Notes 340:Board 142:with 86:Style 1883:2018 1853:2022 1806:2018 1764:2018 1730:see 1718:2009 1687:2015 1661:2018 1631:link 1617:2022 1591:2022 1561:2017 1530:2022 1518:CNBC 1499:2018 1469:2019 1439:see 1279:The 429:Name 404:US$ 236:The 120:Seat 1329:to 1136:16 1094:15 1049:14 996:13 951:12 910:11 869:10 2857:: 1869:. 1792:. 1750:. 1704:. 1647:. 1627:}} 1623:{{ 1607:. 1581:. 1577:. 1551:. 1547:. 1520:. 1516:. 1489:. 1485:. 1432:^ 1414:^ 816:9 775:8 739:7 698:6 657:5 616:4 575:3 539:2 498:1 455:- 376:. 330:. 302:, 298:, 2778:) 2774:( 2768:) 2764:( 2758:) 2754:( 2748:) 2744:( 2738:) 2734:( 2728:) 2724:( 2718:) 2714:( 2708:) 2704:( 2698:) 2694:( 2688:) 2684:( 2678:) 2674:( 2668:) 2664:( 2625:) 2621:( 2615:) 2611:( 2605:) 2601:( 2457:) 2177:) 2173:( 2018:e 2011:t 2004:v 1959:. 1885:. 1855:. 1808:. 1766:. 1720:. 1689:. 1663:. 1633:) 1619:. 1593:. 1563:. 1532:. 1501:. 1471:. 1346:. 187:)

Index


Board of Governors


Jerome Powell
United States Federal Reserve System
Style
Board of Governors
Open Market Committee
United States Congress
Seat
Eccles Building
Washington, D.C.
President
Senate
advice and consent
Term length
Federal Reserve Act
Charles Sumner Hamlin
Vice Chair of the Federal Reserve
Executive Schedule, Level I
federalreserve.gov
Federal Reserve
Board of Governors of the Federal Reserve System
president of the United States
United States Senate
William McChesney Martin
Alan Greenspan
Jerome Powell
Donald Trump

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