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 chairman and another as vice chairman; both serve four-year terms. The chairman of the Board of Governors is Ben S. Bernanke, and Janet L. Yellen is the vice chairman.