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The Chairman Part 1
The Chairman Part 1
Published: 2009/03/15
Channel: CBS
Federal Reserve Chair Janet Yellen
Federal Reserve Chair Janet Yellen
Published: 2017/01/18
Channel: Commonwealth Club
Senator Bernie Sanders Interrogates Fed Chairman Ben Bernanke - June 7, 2012
Senator Bernie Sanders Interrogates Fed Chairman Ben Bernanke - June 7, 2012
Published: 2012/06/08
Channel: mccainisthroughX
BERNIE SANDERS RIPS APART WALL STREET  FEDERAL RESERVE CHAIRMAN
BERNIE SANDERS RIPS APART WALL STREET FEDERAL RESERVE CHAIRMAN
Published: 2015/09/02
Channel: BernieSanders#2016
Who is Trump eyeing as the next Chair of the Federal Reserve?
Who is Trump eyeing as the next Chair of the Federal Reserve?
Published: 2017/06/14
Channel: Fox Business
Federal Reserve Chair Janet Yellen news conference. Mar 15. 2017.
Federal Reserve Chair Janet Yellen news conference. Mar 15. 2017.
Published: 2017/03/15
Channel: CHANNEL90seconds newscom
Federal Reserve Chair Janet Yellen On The U.S. Economic Outlook
Federal Reserve Chair Janet Yellen On The U.S. Economic Outlook
Published: 2017/02/15
Channel: wwwMOXNEWScom
Alan Grayson: "Which Foreigners Got the Fed
Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."
Published: 2009/07/21
Channel: Alan Grayson
Ben Carson: Alan Greenspan Was The Best Federal Reserve Chair
Ben Carson: Alan Greenspan Was The Best Federal Reserve Chair
Published: 2014/11/24
Channel: Bloomberg
Heitkamp Questions Federal Reserve Chair Yellen at Senate Committee Hearing
Heitkamp Questions Federal Reserve Chair Yellen at Senate Committee Hearing
Published: 2017/02/14
Channel: SenatorHeidiHeitkamp
A Conversation with the Chair: A Teacher Town Hall Meeting
A Conversation with the Chair: A Teacher Town Hall Meeting
Published: 2017/01/13
Channel: FedReserveBoard
Federal Reserve Chair Yellen speech at Executives
Federal Reserve Chair Yellen speech at Executives' Club of Chicago. Mar 3. 2017.
Published: 2017/03/03
Channel: CHANNEL90seconds newscom
Bernie Sanders Confronts Alan Greenspan
Bernie Sanders Confronts Alan Greenspan
Published: 2015/06/02
Channel: Women For Justice - Our Revolution
Federal Reserve Chairman Janet Yellen defies President-elect Trump
Federal Reserve Chairman Janet Yellen defies President-elect Trump
Published: 2016/11/18
Channel: Illuminati Silver
Yellen (Federal Reserve Chair) Testifies at Senate (14/2/2017) Live Stream
Yellen (Federal Reserve Chair) Testifies at Senate (14/2/2017) Live Stream
Published: 2017/02/14
Channel: PS4 Play
Chairman Bernanke
Chairman Bernanke's College Lecture Series: The Federal Reserve and the Financial Crisis, Part 1
Published: 2012/03/20
Channel: FedReserveBoard
Federal Reserve Chairman Pushes Class Warfare
Federal Reserve Chairman Pushes Class Warfare
Published: 2014/05/09
Channel: The Alex Jones Channel
Federal Reserve Chair Janet Yellen. News conference June 14, 2017.
Federal Reserve Chair Janet Yellen. News conference June 14, 2017.
Published: 2017/06/14
Channel: CHANNEL90seconds newscom
Former Federal Reserve chairman weighs in on Trump economic policy
Former Federal Reserve chairman weighs in on Trump economic policy
Published: 2017/05/02
Channel: CBS This Morning
President Obama Nominates Ben Bernanke for Chairman of the Federal Reserve
President Obama Nominates Ben Bernanke for Chairman of the Federal Reserve
Published: 2009/08/25
Channel: The Obama White House
BIZARRE: Federal Reserve Chairman Janet Yellen Stumbles Over Words
BIZARRE: Federal Reserve Chairman Janet Yellen Stumbles Over Words
Published: 2015/09/27
Channel: Follow the Money
Federal Reserve Chair Janet Yellen testifies before Congress
Federal Reserve Chair Janet Yellen testifies before Congress
Published: 2015/11/05
Channel: Washington Post
Janet Yellen, Vice Chair of the Federal Reserve
Janet Yellen, Vice Chair of the Federal Reserve
Published: 2012/11/28
Channel: Berkeley-Haas
The Hon. Janet L. Yellen, Chair, Board of Governors of the Federal Reserve System
The Hon. Janet L. Yellen, Chair, Board of Governors of the Federal Reserve System
Published: 2015/12/02
Channel: The Economic Club of Washington, D.C.
Laudable Pursuit - Sen Lee questions Federal Reserve Chair, Janet Yellen
Laudable Pursuit - Sen Lee questions Federal Reserve Chair, Janet Yellen
Published: 2016/11/18
Channel: senatormikelee
Congressman Sherman Questions Federal Reserve Chair Janet Yellen on Interest Rates
Congressman Sherman Questions Federal Reserve Chair Janet Yellen on Interest Rates
Published: 2015/11/04
Channel: Congressman Brad Sherman
.@fordschool - Janet Yellen, chair of the U.S. Federal Reserve System - official recording
.@fordschool - Janet Yellen, chair of the U.S. Federal Reserve System - official recording
Published: 2017/04/11
Channel: Ford School
The Federal Reserve System, Economy & Monetary Policy: Fed Chair (2013)
The Federal Reserve System, Economy & Monetary Policy: Fed Chair (2013)
Published: 2015/06/26
Channel: Remember This
Chairman Bernanke
Chairman Bernanke's College Lecture Series, The Federal Reserve and the Financial Crisis, Part 3
Published: 2012/03/27
Channel: FedReserveBoard
Chairman Bernanke
Chairman Bernanke's College Lecture Series: The Federal Reserve and the Financial Crisis, Part 2
Published: 2012/03/22
Channel: FedReserveBoard
Janet Yellen. Federal Reserve Chair Janet Yellen testifies before Senate Banking Committee  F
Janet Yellen. Federal Reserve Chair Janet Yellen testifies before Senate Banking Committee F
Published: 2017/02/14
Channel: CHANNEL90seconds newscom
Former Chairman of the Federal Reserve Ben Bernanke on Newsnight
Former Chairman of the Federal Reserve Ben Bernanke on Newsnight
Published: 2015/10/28
Channel: BBC Newsnight
Yellen ( Federal Reserve Chair) Testifies at House (15/2/2017) Live Stream
Yellen ( Federal Reserve Chair) Testifies at House (15/2/2017) Live Stream
Published: 2017/02/15
Channel: PS4 Play
Chairman Bernanke
Chairman Bernanke's College Lecture Series, The Federal Reserve and the Financial Crisis, Part 4
Published: 2012/03/29
Channel: FedReserveBoard
President Barack Obama Nominates Dr Janet Yellen as Federal Reserve Chair
President Barack Obama Nominates Dr Janet Yellen as Federal Reserve Chair
Published: 2013/10/10
Channel: AdventuresinHD
Sanders to Yellen: Is the U.S. an Oligarchy?
Sanders to Yellen: Is the U.S. an Oligarchy?
Published: 2014/05/07
Channel: Bernie Sanders
Rand Paul Threatens To Block Janet Yellen
Rand Paul Threatens To Block Janet Yellen's Nomination For Federal Reserve Chair
Published: 2013/10/28
Channel: Jebby Sanderson
Fed Chair Yellen Speaks About Interest Rate Decision (Full FOMC News Conference - Sept. 2016)
Fed Chair Yellen Speaks About Interest Rate Decision (Full FOMC News Conference - Sept. 2016)
Published: 2016/09/23
Channel: Bloomberg
Trickle-Down Economics Benefits Billionaires: Bernie Sanders on the Federal Reserve Chair (2009)
Trickle-Down Economics Benefits Billionaires: Bernie Sanders on the Federal Reserve Chair (2009)
Published: 2015/12/26
Channel: The Film Archives
Press Conference with Chair of the FOMC, Janet L. Yellen
Press Conference with Chair of the FOMC, Janet L. Yellen
Published: 2016/12/14
Channel: FedReserveBoard
Federal Reserve Chair Yellen
Federal Reserve Chair Yellen's March Statement | CNBC
Published: 2016/03/16
Channel: CNBC
The Next Federal Reserve Chair will Decide the Fate of Dodd-Frank
The Next Federal Reserve Chair will Decide the Fate of Dodd-Frank
Published: 2013/09/10
Channel: TheRealNews
Elizabeth Warren ROASTS TRUMP By Questioning Fed Chair Janet Yellen
Elizabeth Warren ROASTS TRUMP By Questioning Fed Chair Janet Yellen
Published: 2017/02/14
Channel: Dose of Dissonance
Federal Reserve Chair Janet Yellen Preps Markets for Near-Term Rate Increase
Federal Reserve Chair Janet Yellen Preps Markets for Near-Term Rate Increase
Published: 2016/05/27
Channel: TheStreet
No Interest Rate Hikes For Now! Janet Yellen Federal Reserve Chair
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Published: 2015/06/18
Channel: CSPANJUNKIEd0tORG
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Published: 2016/09/28
Channel: GOPFinancialServices
FEDERAL RESERVE CHAIR JANET YELLEN VS PRESIDENT TRUMP!
FEDERAL RESERVE CHAIR JANET YELLEN VS PRESIDENT TRUMP!
Published: 2017/06/06
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Sen. Moran Questions Federal Reserve Chair Yellen During Senate Banking Hearing
Sen. Moran Questions Federal Reserve Chair Yellen During Senate Banking Hearing
Published: 2016/06/21
Channel: Jerry Moran
AnonNewsX - Janet Yellen New Chairman Of The Federal Reserve
AnonNewsX - Janet Yellen New Chairman Of The Federal Reserve
Published: 2013/10/09
Channel: AnonNewsX
Janet Yellen confirmed as first female chairman of U.S. Federal Reserve
Janet Yellen confirmed as first female chairman of U.S. Federal Reserve
Published: 2014/01/07
Channel: ARIRANG NEWS
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WIKIPEDIA ARTICLE

From Wikipedia, the free encyclopedia
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Chair of the Board of Governors of the Federal Reserve System
Seal of the United States Federal Reserve Board.svg
Flag of the United States Federal Reserve.svg
Janet Yellen official Federal Reserve portrait.jpg
Incumbent
Janet Yellen

since February 1, 2014
Appointer President of the United States
Formation August 10, 1914; 102 years ago (1914-08-10)
First holder Charles Sumner Hamlin
Salary $201,700[1] (2014)
Website Bios

The Chair of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. The position is known colloquially as "Chair of the Fed" or "Fed Chair". The chair is the "active executive officer"[2] of the Board of Governors of the Federal Reserve System.

The chair is chosen by the President of the United States from among the members of the Board of Governors; and serves for four-year-terms after appointment. A chair may be appointed for several consecutive terms. William Martin was the longest serving chair, holding the position from 1951 to 1970. The current chair is Janet Yellen, the first woman to hold the position.[3] She began her term on February 1, 2014, and previously served as the Vice-Chair from 2010 to 2014. The current term will end on or about February 1, 2018.

1935 reorganization[edit]

Section 203 of the Banking Act of 1935 changed the name of the "Federal Reserve Board" to the "Board of Governors of the Federal Reserve System."[4] The directors' salaries were significantly lower (at $12,000 when first appointed in 1914[5]) and their terms of office were much shorter prior to 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.[6]

In the 1935 Act, the district heads had their titles changed to "President" (e.g., "President of the Federal Reserve Bank of St. Louis").[citation needed]

Thus, Marriner Eccles was the first actual "Chairman of the Board of Governors of the Federal Reserve Board". The others prior to 1935 were "Chairman of the Board of Directors of the Federal Reserve System", with much more circumscribed power.[citation needed]

Appointment process[edit]

As stipulated by the Banking Act of 1935, the President of the United States appoints the seven members of the Board of Governors; they must then be confirmed by the Senate and serve fourteen year terms.[1][7]

The nominees for chair and vice-chair may be chosen by the President from among the sitting Governors for four-year terms; these appointments are also subject to Senate confirmation.[8] By law, the chair reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Treasury Secretary.

Conflict of interest law[edit]

The law applicable to the Chair and all other members of the Board provides (in part):

No member of the Board of Governors of the Federal Reserve System shall be an officer or director of any bank, banking institution, trust company, or Federal Reserve bank or hold stock in any bank, banking institution, or trust company; and before entering upon his duties as a member of the Board of Governors of the Federal Reserve System he shall certify under oath that he has complied with this requirement, and such certification shall be filed with the secretary of the Board.[9]

List of Fed Chairs[edit]

The following is a list of past and present Chairs of the Board of Governors of the Federal Reserve System. A chair serves for a four-year term after appointment, but may be reappointed for several consecutive four-year terms. As of 2014, there have been a total of fifteen Fed Chairs.[10]

Name (chair)[11][12]
(birth–death)
Photo Term of office Appointed by
(term)
Start of term End of term
1 Charles Sumner Hamlin
(1861–1938)
Charles Hamlin-headshot.jpg August 10, 1914 August 10, 1916 Woodrow Wilson
President Woodrow Wilson portrait December 2 1912.jpg
(1913–1921)
2 William P. G. Harding
(1864–1930)
William P.G. Harding-headshot.jpg August 10, 1916 August 9, 1922
3 Daniel R. Crissinger
(1860–1942)
Daniel R. Crissinger cropped.jpg May 1, 1923 September 15, 1927 Warren G. Harding
Warren G Harding portrait as senator June 1920.jpg
(1921–1923)
4 Roy A. Young
(1882–1960)
Roy A. Young 2.jpg October 4, 1927 August 31, 1930 Calvin Coolidge
John Calvin Coolidge, Bain bw photo portrait.jpg
(1923–1929)
5 Eugene Meyer
(1875–1959)
Portrait of Eugene Meyer.jpg September 16, 1930 May 10, 1933 Herbert Hoover
HerbertHoover.jpg
(1929–1933)
6 Eugene Robert Black
(1873–1934)
May 19, 1933 August 15, 1934 Franklin D. Roosevelt
FDR in 1933.jpg
(1933–1945)
7 Marriner S. Eccles
(1890–1977)
Marriner Eccles.jpg November 15, 1934 February 3, 1948[13]
8 Thomas B. McCabe
(1893–1982)
April 15, 1948 April 2, 1951 Harry S. Truman
Harry S. Truman.jpg
(1945–1953)
9 William M. Martin
(1906–1998)
William McChesney Martin jr.jpg April 2, 1951 February 1, 1970
10 Arthur F. Burns
(1904–1987)
ArthurBurns USArmyPhoto 1955.jpg February 1, 1970 January 31, 1978 Richard Nixon
Richard M. Nixon, ca. 1935 - 1982 - NARA - 530679.jpg
(1969–1974)
11 G. William Miller
(1925–2006)
G. William Miller.jpg March 8, 1978 August 6, 1979 Jimmy Carter
Carter cropped.jpg
(1977–1981)
12 Paul Volcker
(1927–)
Paulvolcker.jpg August 6, 1979 August 11, 1987
13 Alan Greenspan
(1926–)
Alan Greenspan color photo portrait.jpg August 11, 1987 January 31, 2006[14] Ronald Reagan
Official Portrait of President Reagan 1981-cropped.jpg
(1981–1989)
14 Ben Bernanke
(1953–)
Ben Bernanke official portrait.jpg February 1, 2006 January 31, 2014 George W. Bush
GeorgeWBush.jpg
(2001–2009)
15 Janet Yellen
(1946–)
Janet Yellen official Federal Reserve portrait.jpg February 1, 2014[15] Incumbent Barack Obama
Obama portrait crop.jpg
(2009–2017)

See also[edit]

Notes[edit]

  1. ^ a b "Federal Reserve Chair Janet Yellen Makes Less Than 113 Other Staffers At The Fed". The Huffington Post. December 16, 2014. Retrieved April 24, 2015. 
  2. ^ see 12 U.S.C. § 242
  3. ^ "Senate Confirms Yellen as Fed Chairwoman". New York Times. Retrieved January 6, 2014. 
  4. ^ Sec. 203, Banking Act of 1935, Public Law no. 305, 49 Stat. 684, 704 (Aug. 23, 1935).
  5. ^ "The Reserve Board Nominations". The Independent. July 20, 1914. Retrieved August 21, 2012. 
  6. ^ Meltzer, Allan H. (2003). A history of the Federal Reserve: Volume 1, 1913-1951. Chicago: University of Chicago Press. 
  7. ^ "The Structure of the Federal Reserve System". Federalreserve.gov. Retrieved April 24, 2015. 
  8. ^ Federal Reserve (January 16, 2009). "Board of Governors FAQ". Federal Reserve. Retrieved January 16, 2009. 
  9. ^ 12 U.S.C. § 244
  10. ^ "Federal Reserve Bank Presidents". The Federal Reserve Bank of St. Louis. Retrieved December 8, 2007. 
  11. ^ "Chairs". Membership of the Board of Governors of the Federal Reserve System, 1914–present. The Federal Reserve Board. February 3, 2014. Retrieved February 10, 2014. 
  12. ^ Chairs were designated Governors before August 23, 1935, and were then designated Chairmen until approximately 2014, when Yellen became the first female chair.
  13. ^ Served as Chair pro tempore from February 3, 1948 to April 15, 1948.
  14. ^ Served as Chair pro tempore from March 3, 1996 to June 20, 1996.
  15. ^ "Econoday Economic Report: FYI January 30, 2014". Bloomberg.econoday.com. February 1, 2014. Retrieved April 24, 2015. 

References[edit]

External links[edit]

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