The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main leading body of the Federal Reserve System. It is in charge with overseeing the Federal Reserve Banks and with helping control the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for a 14-year term.[1][2] It is headquartered in the Eccles Building in Washington, D.C.