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 Chair and the Vice Chair of the Board, as well as the Vice Chair for Supervision, are nominated 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 Chair or Vice Chair
Board Member Assignments - Board Committees
Committee on Board Affairs
Vice Chair Jefferson, Chair and Oversight Governor for the Office of the COO
Vice Chair for Supervision Barr, Member
Committee on Consumer and Community Affairs
Governor Bowman, Chair and Oversight Governor for DCCA
Vice Chair for Supervision Barr, Member
Governor Cook, Member
Committee on Economic and Monetary Affairs
Governor Waller, Member
Vice Chair Jefferson, Member
Committee on Financial Stability
Vice Chair for Supervision Barr, Chair and Oversight Governor for FS
Governor Cook, Member
Committee on Federal Reserve Bank Affairs
Governor Waller, Chair and Oversight Governor for RBOPS
Governor Cook, Member
Committee on Supervision and Regulation
Vice Chair for Supervision Barr, Chair and Oversight Governor for S&R
Governor Bowman, Member
Vice Chair Jefferson, Member
Subcommittee on Smaller Regional and Community Banking
Governor Bowman, Chair
Governor Cook, Member
Vice Chair Jefferson, Member
Committee on Payments, Clearing, and Settlement
Vice Chair for Supervision Barr, Chair
Governor Bowman, Member
Note: The Committee on Economic and Financial Monitoring and Research has been reconstituted and renamed the Committee on Economic and Monetary Affairs. Chair Powell has retained oversight responsibilities for R&S, MA, and IF.