Back رئيس مجلس المحافظين للنظام الاحتياطي الفدرالي Arabic Presidente del Sistema de la Reserva Federal Spanish رئیس فدرال رزرو FA Presidente da Reserva Federal dos Estados Unidos de América GL Դաշնային պահուստի նախագահ HY 連邦準備制度理事会議長 Japanese 연방준비제도 이사회 의장 Korean फेडरल रिजर्भका अध्यक्ष NE Voorzitter van het Federal Reserve System Dutch USAs sentralbanksjef NB
| Chairman of the Board of Governors of the Federal Reserve System | |
|---|---|
 Seal of the Board of Governors | |
 Flag of the Federal Reserve System | |
 | |
| United States Federal Reserve System | |
| Style | Mr. Chairman |
| Member of | Board of Governors Open Market Committee |
| Reports to | United States Congress |
| Seat | Eccles Building Washington, D.C. |
| Appointer | President with Senate advice and consent |
| Term length | Four years, renewable (as Chair) 14 years, non-renewable (as Governor) |
| Constituting instrument | Federal Reserve Act |
| Formation | August 10, 1914 |
| First holder | Charles Sumner Hamlin |
| Deputy | Vice Chair of the Federal Reserve |
| Salary | Executive Schedule, Level I[1] |
| Website | federalreserve.gov |
The chairman of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, and is the active executive officer of the Board of Governors of the Federal Reserve System. The chairman presides at meetings of the Board.[2]
The chairman serves a four-year term after being nominated by the president of the United States and confirmed by the United States Senate; the officeholder serves concurrently as a member of the Board of Governors. The chairman may serve multiple terms, pending a new nomination and confirmation at the end of each term; William McChesney Martin (1951-1970) was the longest serving chair, with Alan Greenspan (1987-2006) 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.[3]
The current chairman is Jerome Powell, who was sworn in on February 5, 2018.[4][5] He was nominated to the position by President Donald Trump on November 2, 2017,[6] and later confirmed by the Senate. He was subsequently nominated to a second term by President Joe Biden, later confirmed by the Senate and sworn in on May 23, 2022.[7][8]
- ^ 5 U.S.C. § 5312
- ^ Cite error: The named reference
chairappointmentwas invoked but never defined (see the help page). - ^ "Can the President Fire the Chairman of the Federal Reserve?". Cumberland Advisors. Archived from the original on July 27, 2020. Retrieved August 26, 2019.
- ^ "Jerome H. Powell sworn in as Chairman of the Board of Governors of the Federal Reserve System". Board of Governors of the Federal Reserve System. Archived from the original on February 6, 2018. Retrieved February 5, 2018.
- ^ Cox, Jeff (February 5, 2018). "Jerome Powell takes the reins at the Fed amid market sell-off, jump in yields". CNBC. Archived from the original on February 5, 2018. Retrieved February 6, 2022.
- ^ Gensler, Lauren (November 2, 2017). "Trump Taps Jerome Powell As Next Fed Chair In Call For Continuity". Forbes. Archived from the original on November 2, 2017. Retrieved November 3, 2017.
- ^ "Jerome H. Powell sworn in for second term as Chair of the Board of Governors of the Federal Reserve System". Board of Governors of the Federal Reserve System. Archived from the original on May 23, 2022. Retrieved May 23, 2022.
- ^ "Powell sworn in to second four-year term as U.S. Fed chief". Reuters. May 23, 2022. Archived from the original on September 2, 2022. Retrieved May 24, 2022.
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