ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Board of Governors–located in Washington, D.C.–is the governing body of the Federal Reserve System. It is run by seven members, or “governors, ” who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate.

Detailed explanation-2: -The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed.

Detailed explanation-3: -The Federal Reserve’s supervision activities include examinations and inspections to ensure that financial institutions operate in a safe and sound manner and comply with laws and regulations. These include an assessment of a financial institution’s risk-management systems, financial conditions, and compliance.

Detailed explanation-4: -CONGRESS oversees the Federal Reserve System and its entities. BOARD OF GOVERNORS is an independent agency of the federal government.

Detailed explanation-5: -Jerome H. Powell. Chair. Board of Governors. Michelle W. Bowman. Governor. Board of Governors. Lisa D. Cook. Governor. Board of Governors. Philip N. Jefferson. Governor. Board of Governors. Christopher J. Waller. Governor. Lael Brainard. Vice Chair. Board of Governors. Randal K. Quarles. Vice Chair for Supervision. Janet L. Yellen. Chair. More items