ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Jerome H. Powell, Board of Governors, Chair. John C. Williams, New York, Vice Chair. Michael S. Barr, Board of Governors. Michelle W. Bowman, Board of Governors. Lisa D. Cook, Board of Governors. Austan D. Goolsbee, Chicago. Patrick Harker, Philadelphia. Philip N. Jefferson, Board of Governors. More items •02-Mar-2023

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 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-4: -(All twelve bank presidents are members of the FOMC, but only five vote at a time. The president of the New York bank always has a vote because of the New York bank’s central role as the system’s major operating facility.)

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