Board of Governors of the Federal Reserve System

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Board of Governors of the Federal Reserve System

The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Sarasin, president and CEO of the Food Marketing Institute (FMI), to its board of governors."Pam and Leslie represent two important business constituencies, and will be extremely valuable voices on the GS1 US board of governors," said Bob Carpenter, CEO of the Lawrenceville, N.J.-based organization.
"Industry would not be as efficient without the UPC," says Sandy Douglas, president of Coca-Cola North America, and chairman of the GS1 US Board of Governors. "The UPC provides a basis for the industry to track products from production to shelf, to move products between companies, and to get products to shoppers quickly."
Bob has the operational experience, as well as the sector-specific knowledge, to tap that potential and guide the organization and its member companies into the future," said Sandy Douglas, chairman of the GS1 US Board of Governors.