board of governors

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Board of Governors of the Federal Reserve System

A committee of the Federal Reserve charged with implementing monetary policy of the United States. It consists of seven members appointed by the President of the United States and confirmed by the Senate. The chairman of the Board also serves as Chairman of the Federal Reserve. Members serve for staggered, 14-year terms. The length of service is designed to give the Board as much independence from Congress, and therefore immediate political expediency, as possible. The Board makes an annual report on its operation to the Speaker of the House of Representatives and its members serve ex officio on the Federal Open Market Committee.

board of governors

1. An elected body composed of members of a stock exchange that oversees the affairs of the exchange.
2. A group of people appointed by the President of the United States to the Federal Reserve to oversee the nation's money system. Decisions by the board have great impact on the securities markets. See also Federal Open Market Committee.
References in periodicals archive ?
Finally, we shared the Mission and Bylaws of the Board of Visitors and emphasized how that group could help build upon the strengths of our college and provide support for our high-achieving students.
James Cassidy, chairman of the Board of Visitors, said the healthcare centre was causing considerable concern because it is full and short-staffed.
When 83 men were asked whether the Board of Visitors should have a permanent office in the prison, where they could be approached in confidence, 72 (87 per cent) thought this was a good idea.
operations at Cushman & Wakefield, to its board of visitors.
The comments came following a damning annual report from the prison's Board of Visitors, which revealed prisoners had to eat meals in cells which had an open lavatory because of overcrowding, and could not take showers or exercise because of staff shortages.
The Board of Visitors at HMP Birmingham are concerned that prisoners will not be properly represented unless more helpers join the Home Secretary's 'eyes and ears' of the institution.

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