Board of Governors of the Federal Reserve

The Board of Governors in Washington, DC, provides general oversight of the Reserve Banks. It is composed of seven members who are appointed by the President and confirmed by the Senate to serve 14-year terms, which are staggered so that one expires every two years.

The President of the United States designates one member of the Board as chair and another as vice chair; both serve four-year terms. The chair of the Board of Governors is Janet L. Yellen.