Federal Reserve Board

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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.

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.

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.
References in periodicals archive ?
In these circumstances, although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably.
On October 11, 2005, the Federal Reserve Board and the Federal Open Market Committee released the minutes of the Committee meeting held on September 20, 2005.
The Federal Open Market Committee decided on June 30, 2005, to raise its target for the federal funds rate 25 basis points, to 314 percent.
Without equivocation, without hedging, and without his trademark convoluted syntax, he flat-out asserted that both he and the Federal Open Market Committee have unanimously concluded that the world economy has entered a new era of downward price pressures and declining inflation rates and has left behind the age of inflationary concerns.
On July 21, 2005, the Federal Reserve Board and the Federal Open Market Committee released the minutes of the Committee meeting held on June 29-30, 2005.
What's interesting is that should the Fed move to a nontraditional approach, a huge responsibility rests on the shoulders of a relatively unknown figure within the Fed system, Dino Kos, executive vice president of the markets group at the New York Fed and manager of the System Open Market Account for the Federal Open Market Committee. Indeed, Fed officials go out of their way to say that the system is lucky because Kos may be the best to have ever held this key position.
The Federal Reserve said in today's statement, "Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate.
Last week's other significant market-moving event took place on Wednesday when the Federal Open Market Committee (FOMC) took a decision against scaling down its US$85 billion per month bond-purchasing spree.
In New York overnight, the dollar briefly dived to the 119 yen level on position-squaring selling ahead of a meeting next Tuesday of the Federal Open Market Committee.
On December 14, 2004, the Federal Open Market Committee (FOMC) decided to move up the publication of its minutes to three weeks after the end of each meeting.
Friday, September 14th brought all the members of the Federal Open Market Committee together on a conference call for the first time since the attacks.
The Federal Reserve says in today's statement, "Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate.