FED Bank Board of Directors Market News

The Board of Governors of the Federal Reserve System, or commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. There are seven members, or "governors," on the board who are nominated by the President of the United States and then confirmed by the Senate. They serve a full term of fourteen years and those who serve a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. The Chairman and the Vice Chairman of the Board (also 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 and may be reappointed subject to term limitations.