Print
How are the Chairman and members of the Federal Reserve Board of Governors selected, and what are their terms of office?
The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even- numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.
The Chairman and the Vice Chairman of the Board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chairman or Vice Chairman.
Who are the current members of the Board of Governors?
A list of current Board members is available on the Board of Governors' web site.
A list of current Board members is available on the Board of Governors' web site.
What are the salaries of the Board members?
Congress sets the salaries of the Board members. For 2010, the Chairman's annual salary is $199,700. The annual salary of the other Board members (including the Vice Chairman) is $179,700.
Congress sets the salaries of the Board members. For 2010, the Chairman's annual salary is $199,700. The annual salary of the other Board members (including the Vice Chairman) is $179,700.
What is the relationship of the Board of Governors to the Federal Reserve Banks?
In public debate prior to passage of the Federal Reserve Act, some private-sector bankers expressed concern that a central bank governed by a Board of Governors appointed by the government would not be sufficiently responsive to the needs of the financial community. Certain agrarian interests, on the other hand, felt that an independent central bank would yield too much control over monetary affairs to the private banks. As a result, the Federal Reserve System was structured with two levels of authority- -the Board of Governors, located in Washington, D.C., has a centralized and supervisory public influence over the Reserve Banks, while the individual Reserve Banks maintain narrower control over their own day-to-day operations.
In public debate prior to passage of the Federal Reserve Act, some private-sector bankers expressed concern that a central bank governed by a Board of Governors appointed by the government would not be sufficiently responsive to the needs of the financial community. Certain agrarian interests, on the other hand, felt that an independent central bank would yield too much control over monetary affairs to the private banks. As a result, the Federal Reserve System was structured with two levels of authority- -the Board of Governors, located in Washington, D.C., has a centralized and supervisory public influence over the Reserve Banks, while the individual Reserve Banks maintain narrower control over their own day-to-day operations.
How can I request to have a Board member speak at an event?
Write directly to the Board member, addressing him or her as "The Honorable." Because the Board receives many requests, please allow at least ten business days for a response. Requests may be faxed to 202-452-3819 or mailed to the following address: Federal Reserve Board, 20th Street and Constitution Avenue, NW, Washington, DC 20551
Write directly to the Board member, addressing him or her as "The Honorable." Because the Board receives many requests, please allow at least ten business days for a response. Requests may be faxed to 202-452-3819 or mailed to the following address: Federal Reserve Board, 20th Street and Constitution Avenue, NW, Washington, DC 20551
How can I send comments, suggestions, or requests to a Board member by e-mail?
Because of the many requests and suggestions received from the public, we cannot provide the individual e-mail addresses of the Board members.
Because of the many requests and suggestions received from the public, we cannot provide the individual e-mail addresses of the Board members.
Is it legal for Board employees to own stock or to trade in the market?
Yes, generally, Board employees, and their spouses and minor children, are allowed to own or trade stock, except the stock of depository institutions or affiliates of such institutions. Also, employees who have ongoing access to the most sensitive Federal Open Market Committee information, and their spouses and minor children, may not own stock in primary government securities dealers or their affiliates, and they are restricted as to when they may buy and sell securities
Yes, generally, Board employees, and their spouses and minor children, are allowed to own or trade stock, except the stock of depository institutions or affiliates of such institutions. Also, employees who have ongoing access to the most sensitive Federal Open Market Committee information, and their spouses and minor children, may not own stock in primary government securities dealers or their affiliates, and they are restricted as to when they may buy and sell securities
Where can I find a list of all Federal Reserve Board governors since 1913?
This information can be found on the Web site of the Board of Governors at: http://federalreserve.gov/bios/boardmembersh ip.htm.
This information can be found on the Web site of the Board of Governors at: http://federalreserve.gov/bios/boardmembersh ip.htm.
Who is the current chairman of the Federal Reserve Board?
Ben Bernanke is the current chairman of the Board of Governors of the Federal Reserve System. He originally took office as Chairman on February 1, 2006, when he also began a 14-year term as a member of the Board. Ben S. Bernanke began a second term as Chairman of the Board of Governors of the Federal Reserve System on February 1, 2010.
Dr. Bernanke also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. His second term as Chairman ends January 31, 2014, and his term as a Board member ends January 31, 2020.
More information about Chairman Bernanke is available on the website of the Board of Governors.
Richmond
Public Affairs
(804) 697-8000
