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Who is the chairman of the Federal Reserve?


Who is the chairman of the Federal Reserve?

Jerome Powell
Federal Reserve System/Chairpersons
Jerome Powell took office as chairman of the Board of Governors of the Federal Reserve System in February 2018, for a four-year term ending in February 2022.

Is the current chairman of the Federal Reserve?

Chair of the Federal Reserve

Chair of the Board of Governors of the Federal Reserve System
Incumbent Jerome Powell since February 5, 2018
United States Federal Reserve System
Style Mr. Chairman
Member of Board of Governors Open Market Committee

Who is chairman Powell?

Washington, D.C., U.S. Jerome Hayden Powell (born February 4, 1953), also known as “Jay”, is the 16th chair of the Federal Reserve, serving in that office since February 2018. In 1992, Powell briefly served as Under Secretary of the Treasury for Domestic Finance under President George H. W. …

How is Fed chairman chosen?

As stipulated in the Banking Act of 1935, one of the seven governors is appointed by the U.S. president to a four-year term as chairman. This selection must be confirmed by the Senate.

How much does the chairman of the Federal Reserve make?

Jerome Powell’s salary as the chair of the Federal Reserve is $203,500. In 2019 the salary for the other seven board members on the Federal Reserve was $183,100. The salary for all members is set by Congress.

Who is the current chair of the Federal Reserve?

The chair does not serve at the pleasure of the president, meaning that he or she cannot be dismissed by the president, however, the chair can resign before the end of the term. The current chair is Jerome Powell, who was sworn in on February 5, 2018.

Who is the chair of the Board of Governors?

The chair is nominated by the president of the United States from among the members of the Board of Governors, and serves a term of four years after being confirmed by the United States Senate. A chair may serve multiple consecutive terms, pending a new nomination and confirmation at the end of each.

Who was the head of the Federal Reserve before 1935?

In effect, the Federal Reserve Board members in Washington, D.C., were significantly less powerful than the presidents of the regional Federal Reserve Banks prior to 1935. In the 1935 Act, the district heads had their titles changed to “President” (e.g., “President of the Federal Reserve Bank of St. Louis”).