Federal Reserve Board

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Related to The Consumer Advisory Council: Thrift Institutions Advisory Council, Consumer advocacy groups

Federal Reserve Board (FRB)

The seven-member governing body of the Federal Reserve System, which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions.
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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.
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Federal Reserve Board

The seven governing members of the Federal Reserve System who are appointed by the President for 14-year terms. Board members play an important role in determining the country's monetary policy which, in turn, strongly influences economic activity.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The Federal Reserve Board announced on May 29, 2001, that the Consumer Advisory Council would hold its next meeting on Thursday, June 28, 2001.
The Federal Reserve Board announced on May 24, 2000, that it is seeking nominations for seven appointments to the Consumer Advisory Council.
The Federal Reserve Board announced on September 28, 1999, that the Consumer Advisory Council would hold its next meeting on Thursday, October 21.
The Federal Reserve Board announced on September 17, 1998, that the Consumer Advisory Council would meet on Thursday, October 22, in a meeting open to the public.
A special committee of the Consumer Advisory Council is looking into various aspects of the issue, including mortgage review boards, examination processes and examiner training, the use of testers, additional studies, and brochures that give guidance to lenders.

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