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.

 

Board Member Assignments - Board Committees

Committee on Board Affairs
Governor Brainard, Chair and Oversight Governor for the Office of the COO
Governor Bowman, Member

Committee on Consumer and Community Affairs
Governor Bowman, Chair and Oversight Governor for DCCA
Governor Brainard, Member

Committee on Economic and Monetary Affairs
Vice Chair Clarida, Chair and Oversight Governor for R&S, MA, and IF

Committee on Financial Stability
Governor Brainard, Chair and Oversight Governor for FS
Governor Quarles, Member

Committee on Federal Reserve Bank Affairs
Governor Brainard, Chair and Oversight Governor for RBOPS
Governor Bowman, Member
Governor Waller, Member

Committee on Supervision and Regulation
Governor Quarles, Member
Governor Brainard, Member
Governor Bowman, Member

Subcommittee on Smaller Regional and Community Banking
Governor Bowman, Chair
Governor Brainard, Member

Committee on Payments, Clearing, and Settlement
Governor Brainard, Chair
Governor Quarles, Member
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.

 

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Last Update: October 14, 2021