# Federal Reserve Board of Governors

The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms. It is headquartered in the Eccles Building on Constitution Avenue, N.W. in Washington, D.C.

## Statutory description

By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country". As stipulated in the Banking Act of 1935, the chair and vice chair of the Board are two of seven members of the Board of Governors who are appointed by the president from among the sitting governors of the Federal Reserve Banks.
The terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the president, the members function mostly independently. Such independence is unanimously supported by major economists. The Board is required to make an annual report of operations to the Speaker of the House. It also supervises and regulates the operations of the Federal Reserve Banks, and the U.S. banking system in general. The Board obtains its funding from charges that it assesses on the Federal Reserve Banks, and not from the federal budget; however, since net earnings of the Federal Reserve Banks are ultimately remitted to the US Treasury, and spending by the Federal Reserve System reduces the size of these remittances, the effects of this source-of-funding distinction are largely optical.
Membership is by statute limited in term, and a member who has served for a full 14-year term is not eligible for reappointment. There are numerous occasions where an individual was appointed to serve the remainder of another member's uncompleted term and has been reappointed to serve a full 14-year term. Since "upon the expiration of their terms of office, members of the Board shall continue to serve until their successors are appointed and have qualified", a member can serve for significantly longer than a full term of 14 years. The law provides for the removal of a member of the board by the president "for cause".
The chair and vice chair of the Board of Governors are appointed by the president from among the sitting Governors. They both serve a four-year term and they can be renominated as many times as the president chooses until their terms on the Board of Governors expire.
All seven board members of the Federal Reserve Board of Governors and five Federal Reserve Bank presidents direct the open market operations that set U.S. monetary policy through their membership in the Federal Open Market Committee (FOMC).
Records of the Federal Reserve Board of Governors are found in the Record Group n. 82 at the National Archives and Records Administration.

## Current members

The current members of the Board of Governors are as follows:
| Current governor | Party | Term start | Term expires |
| Jerome Powell (Chair) | Republican | February 5, 2018 (as Chair) May 23, 2022 (reappointment) | May 15, 2026 (as Chair) |
| Jerome Powell (Chair) | Republican | May 25, 2012 (as Governor) June 16, 2014 (reappointment) | January 31, 2028 (as Governor) |
| Philip Jefferson (Vice Chair) | Democratic | September 13, 2023 (as Vice Chair) | September 7, 2027 (as Vice Chair) |
| Philip Jefferson (Vice Chair) | Democratic | May 23, 2022 (as Governor) | January 31, 2036 (as Governor) |
| Michelle Bowman | Republican | November 26, 2018 February 1, 2020 (reappointment) | January 31, 2034 |
| Christopher Waller | Republican | December 18, 2020 | January 31, 2030 |
| Lisa Cook | Democratic | May 23, 2022 February 1, 2024 (reappointment) | January 31, 2038 |
| Michael Barr | Democratic | July 19, 2022 | January 31, 2032 |
| Adriana Kugler | Democratic | September 13, 2023 | January 31, 2026 |

### Vacancies and pending nominations

| Seat last held by | Vacancy reason | Vacancy date | Term expiration | Nominee | Nomination date | Regional Bank |
| Michael Barr | Resignation as Vice Chair for Supervision | February 28, 2025 | February 28, 2029 | Michelle Bowman | March 2025 (pending) | St. Louis |

## Committees

There are eight committees.
* Committee on Board Affairs
* Committee on Consumer and Community Affairs
* Committee on Economic and Financial Monitoring and Research
* Committee on Financial Stability
* Committee on Federal Reserve Bank Affairs
* Committee on Bank Supervision
* Subcommittee on Smaller Regional and Community Banking
* Committee on Payments, Clearing, and Settlement

## List of governors

The following is a list of past and present members of the Board of Governors of the Federal Reserve System. A governor serves for a fourteen-year term after appointment and a member who serves a full term may not be reappointed; when a governor completes an unexpired portion of a term, they may be reappointed. Since the Federal Reserve was established in 1914, the following people have served as governor.
Status
* Italics denotes date of term expiration
| Name | Regional Bank | Term start | Term end | Tenure length | Initial appointment | Departure reason |
| Charles Hamlin | Boston | August 10, 1914 | February 3, 1936 | 21 years, 177 days | Wilson | Retired |
| Paul Warburg | New York | August 10, 1914 | August 9, 1918 | 3 years, 364 days | Wilson | Term expired |
| Frederic Delano | Chicago | August 10, 1914 | July 21, 1918 | 3 years, 345 days | Wilson | Resigned |
| William Harding | Atlanta | August 10, 1914 | August 9, 1922 | 7 years, 364 days | Wilson | Term expired |
| Adolph Miller | San Francisco (1914–1934) | August 10, 1914 | February 3, 1936 | 21 years, 177 days | Wilson | Retired |
| Adolph Miller | Richmond (1934–1936) | August 10, 1914 | February 3, 1936 | 21 years, 177 days | Wilson | Retired |
| Albert Strauss | New York | October 26, 1918 | March 15, 1920 | 1 year, 141 days | Wilson | Resigned |
| Henry Moehlenpah | Chicago | November 10, 1919 | August 9, 1920 | 0 years, 273 days | Wilson | Term expired |
| Edmund Platt | New York | June 20, 1920 | September 14, 1930 | 10 years, 86 days | Wilson | Resigned |
| David Wills | Cleveland | September 20, 1920 | March 4, 1921 | 0 years, 165 days | Wilson | Term expired |
| John Mitchell | Minneapolis | May 12, 1921 | May 12, 1923 | 2 years, 0 days | Harding | Resigned |
| Milo Campbell | Chicago | March 14, 1923 | March 22, 1923 | 0 years, 8 days | Harding | Died in office |
| Daniel Crissinger | Cleveland | May 1, 1923 | September 15, 1927 | 4 years, 137 days | Harding | Resigned |
| Edward Cunningham | Chicago | May 14, 1923 | November 28, 1930 | 7 years, 198 days | Harding | Died in office |
| George James | St. Louis | May 14, 1923 | February 3, 1936 | 12 years, 265 days | Harding | Retired |
| Roy Young | Minneapolis | October 4, 1927 | August 31, 1930 | 2 years, 331 days | Coolidge | Resigned |
| Eugene Meyer | New York | September 16, 1930 | May 10, 1933 | 2 years, 236 days | Hoover | Resigned |
| Wayland Magee | Kansas City | May 18, 1931 | January 24, 1933 | 1 year, 251 days | Hoover | Term expired |
| Eugene Black | Atlanta | May 19, 1933 | August 15, 1934 | 1 year, 88 days | F. Roosevelt | Resigned |
| Menc Szymczak | Chicago | June 14, 1933 | May 31, 1961 | 27 years, 351 days | F. Roosevelt | Resigned |
| John Thomas | Kansas City | June 14, 1933 | February 10, 1936 | 2 years, 241 days | F. Roosevelt | Retired |
| Marriner Eccles | San Francisco | November 15, 1934 | July 14, 1951 | 16 years, 241 days | F. Roosevelt | Resigned |
| Joseph Broderick | New York | February 3, 1936 | September 30, 1937 | 1 year, 239 days | F. Roosevelt | Resigned |
| John McKee | Cleveland | February 3, 1936 | April 4, 1946 | 10 years, 60 days | F. Roosevelt | Retired |
| Ronald Ransom | Atlanta | February 3, 1936 | December 2, 1947 | 11 years, 302 days | F. Roosevelt | Died in office |
| Ralph Morrison | Dallas | February 10, 1936 | July 9, 1936 | 0 years, 150 days | F. Roosevelt | Resigned |
| Chester Davis | Richmond | June 25, 1936 | April 15, 1941 | 4 years, 294 days | F. Roosevelt | Resigned |
| Ernest Draper | New York | March 30, 1938 | September 1, 1950 | 12 years, 155 days | F. Roosevelt | Retired |
| Rudolph Evans | Richmond | March 14, 1942 | August 13, 1954 | 12 years, 152 days | F. Roosevelt | Retired |
| Jake Vardaman | St. Louis | April 4, 1946 | November 30, 1958 | 12 years, 240 days | Truman | Resigned |
| Larry Clayton | Boston | February 14, 1947 | December 4, 1949 | 2 years, 293 days | Truman | Died in office |
| Thomas McCabe | Philadelphia | April 15, 1948 | March 31, 1951 | 2 years, 350 days | Truman | Resigned |
| Edward Norton | Atlanta | September 1, 1950 | January 31, 1952 | 1 year, 152 days | Truman | Resigned |
| Oliver S. Powell | Minneapolis | September 1, 1950 | June 30, 1952 | 1 year, 303 days | Truman | Resigned |
| Bill Martin | New York | April 2, 1951 | January 31, 1970 | 18 years, 304 days | Truman | Term expired |
| Abbot Mills | San Francisco | February 18, 1952 | February 28, 1965 | 13 years, 10 days | Truman | Resigned |
| James Robertson | Kansas City | February 18, 1952 | April 30, 1973 | 21 years, 71 days | Truman | Resigned |
| Canby Balderston | Philadelphia | August 12, 1954 | February 28, 1966 | 11 years, 200 days | Eisenhower | Retired |
| Paul Miller | Minneapolis | August 13, 1954 | October 21, 1954 | 0 years, 69 days | Eisenhower | Died in office |
| Charles Shepardson | Dallas | March 17, 1955 | April 30, 1967 | 12 years, 44 days | Eisenhower | Retired |
| George King | Atlanta | March 25, 1959 | September 18, 1963 | 4 years, 177 days | Eisenhower | Resigned |
| George Mitchell | Chicago | August 31, 1961 | February 13, 1976 | 14 years, 166 days | Kennedy | Retired |
| Dewey Daane | Richmond | November 29, 1963 | March 8, 1974 | 10 years, 99 days | Kennedy | Retired |
| Sherman Maisel | San Francisco | April 30, 1965 | May 31, 1972 | 7 years, 31 days | Johnson | Retired |
| Andrew Brimmer | Philadelphia | March 9, 1966 | August 31, 1974 | 8 years, 175 days | Johnson | Resigned |
| William Sherrill | Dallas | May 1, 1967 | November 15, 1971 | 4 years, 198 days | Johnson | Resigned |
| Arthur Burns | New York | January 31, 1970 | March 31, 1978 | 8 years, 59 days | Nixon | Resigned |
| John Sheehan | St. Louis | January 4, 1972 | June 1, 1975 | 3 years, 148 days | Nixon | Resigned |
| Jeffrey Bucher | San Francisco | June 5, 1972 | January 2, 1976 | 3 years, 211 days | Nixon | Resigned |
| Robert Holland | Kansas City | June 11, 1973 | May 15, 1976 | 2 years, 339 days | Nixon | Resigned |
| Henry Wallich | Boston | March 8, 1974 | December 15, 1986 | 12 years, 282 days | Nixon | Resigned |
| Philip Coldwell | Dallas | October 29, 1974 | February 29, 1980 | 5 years, 123 days | Ford | Retired |
| Philip Jackson | Atlanta | July 14, 1975 | November 17, 1978 | 3 years, 126 days | Ford | Resigned |
| Charles Partee | Richmond | January 5, 1976 | February 7, 1986 | 10 years, 33 days | Ford | Retired |
| Stephen Gardner | Philadelphia | February 13, 1976 | November 19, 1978 | 2 years, 279 days | Ford | Died in office |
| David Lilly | Minneapolis | June 1, 1976 | February 24, 1978 | 1 year, 268 days | Ford | Resigned |
| William Miller | San Francisco | March 8, 1978 | August 6, 1979 | 1 year, 151 days | Carter | Resigned |
| Nancy Teeters | Chicago | September 18, 1978 | June 27, 1984 | 5 years, 283 days | Carter | Resigned |
| Emmett Rice | New York | June 20, 1979 | December 31, 1986 | 7 years, 194 days | Carter | Resigned |
| Frederick Schultz | Atlanta | July 27, 1979 | February 11, 1982 | 2 years, 199 days | Carter | Resigned |
| Paul Volcker | Philadelphia | August 6, 1979 | August 11, 1987 | 8 years, 5 days | Carter | Resigned |
| Lyle Gramley | Kansas City | May 28, 1980 | September 1, 1985 | 5 years, 96 days | Carter | Resigned |
| Preston Martin | San Francisco | March 31, 1982 | April 30, 1986 | 4 years, 30 days | Reagan | Resigned |
| Martha Seger | Chicago | July 2, 1984 | March 11, 1991 | 6 years, 252 days | Reagan | Resigned |
| Wayne Angell | Kansas City | February 7, 1986 | February 9, 1994 | 8 years, 2 days | Reagan | Resigned |
| Manley Johnson | Richmond | February 7, 1986 | August 3, 1990 | 4 years, 177 days | Reagan | Resigned |
| Robert Heller | San Francisco | August 19, 1986 | July 31, 1989 | 2 years, 346 days | Reagan | Resigned |
| Edward W. Kelley | Dallas | May 26, 1987 | December 31, 2001 | 14 years, 219 days | Reagan | Resigned |
| Alan Greenspan | New York | August 11, 1987 | January 31, 2006 | 18 years, 173 days | Reagan | Term expired |
| John LaWare | Boston | August 15, 1988 | April 30, 1995 | 6 years, 258 days | Reagan | Resigned |
| David Mullins | St. Louis | May 21, 1990 | February 14, 1994 | 3 years, 269 days | G. H. W. Bush | Resigned |
| Larry Lindsey | Richmond | November 26, 1991 | February 5, 1997 | 5 years, 71 days | G. H. W. Bush | Resigned |
| Susan Phillips | Chicago | December 2, 1991 | June 30, 1998 | 6 years, 210 days | G. H. W. Bush | Resigned |
| Alan Blinder | Philadelphia | June 27, 1994 | January 31, 1996 | 1 year, 218 days | Clinton | Term expired |
| Janet Yellen | San Francisco | August 12, 1994 | February 17, 1997 | 2 years, 189 days | Clinton | Resigned |
| Laurence Meyer | St. Louis | June 24, 1996 | January 31, 2002 | 5 years, 221 days | Clinton | Term expired |
| Alice Rivlin | Philadelphia | June 25, 1996 | July 16, 1999 | 3 years, 21 days | Clinton | Resigned |
| Roger Ferguson | Boston | November 5, 1997 | April 28, 2006 | 8 years, 174 days | Clinton | Resigned |
| Edward Gramlich | Richmond | November 5, 1997 | August 31, 2005 | 7 years, 299 days | Clinton | Resigned |
| Susan Bies | Chicago | December 7, 2001 | March 30, 2007 | 5 years, 113 days | G. W. Bush | Resigned |
| Mark W. Olson | Minneapolis | December 7, 2001 | June 30, 2006 | 4 years, 205 days | G. W. Bush | Resigned |
| Ben Bernanke | Atlanta | August 5, 2002 | June 21, 2005 | 2 years, 320 days | G. W. Bush | Resigned |
| Don Kohn | Kansas City | August 5, 2002 | September 1, 2010 | 8 years, 27 days | G. W. Bush | Resigned |
| Ben Bernanke | Atlanta | February 1, 2006 | January 31, 2014 | 7 years, 364 days | G. W. Bush | Resigned |
| Kevin Warsh | New York | February 24, 2006 | April 2, 2011 | 5 years, 37 days | G. W. Bush | Resigned |
| Randall Kroszner | Richmond | March 1, 2006 | January 21, 2009 | 2 years, 326 days | G. W. Bush | Resigned |
| Rick Mishkin | Boston | September 5, 2006 | August 31, 2008 | 1 year, 361 days | G. W. Bush | Resigned |
| Betsy Duke | Philadelphia | August 5, 2008 | August 31, 2013 | 5 years, 26 days | G. W. Bush | Resigned |
| Dan Tarullo | Boston | January 28, 2009 | April 5, 2017 | 8 years, 67 days | Obama | Resigned |
| Sarah Bloom Raskin | Richmond | October 4, 2010 | March 13, 2014 | 3 years, 160 days | Obama | Resigned |
| Janet Yellen | San Francisco | October 4, 2010 | February 3, 2018 | 7 years, 122 days | Obama | Resigned |
| Jay Powell | Philadelphia | May 25, 2012 | January 31, 2028 | 12 years, 291 days | Obama | Incumbent |
| Jeremy Stein | Chicago | May 30, 2012 | May 28, 2014 | 1 year, 363 days | Obama | Resigned |
| Stan Fischer | New York | May 28, 2014 | October 13, 2017 | 3 years, 138 days | Obama | Resigned |
| Lael Brainard | Richmond | June 16, 2014 | February 18, 2023 | 8 years, 247 days | Obama | Resigned |
| Randy Quarles | Kansas City | October 13, 2017 | December 25, 2021 | 4 years, 73 days | Trump I | Resigned |
| Richard Clarida | Boston | September 17, 2018 | January 14, 2022 | 3 years, 119 days | Trump I | Resigned |
| Miki Bowman | St. Louis | November 26, 2018 | January 31, 2034 | 6 years, 106 days | Trump I | Incumbent |
| Chris Waller | Minneapolis | December 18, 2020 | January 31, 2030 | 4 years, 84 days | Trump I | Incumbent |
| Lisa Cook | Atlanta | May 23, 2022 | January 31, 2038 | 2 years, 293 days | Biden | Incumbent |
| Philip Jefferson | New York | May 23, 2022 | January 31, 2036 | 2 years, 293 days | Biden | Incumbent |
| Michael Barr | Chicago | July 19, 2022 | January 31, 2032 | 2 years, 236 days | Biden | Incumbent |
| Adriana Kugler | Richmond | September 13, 2023 | January 31, 2026 | 1 year, 180 days | Biden | Incumbent |

## Succession of seats

The Federal Reserve Board has seven seats subject to Senate confirmation, separate from a member's term as chair or vice chair.
Seat 1 :
| Established August 10, 1914 per Federal Reserve Act ||
| Hamlin | August 10, 1914 – February 3, 1936 |
| Board reorganized February 3, 1936 ||
| Morrison | February 10, 1936 – July 9, 1936 |
| Clayton | February 14, 1947 – December 4, 1949 |
| O. Powell | September 1, 1950 – June 30, 1952 |
| Balderston | August 12, 1954 – February 28, 1966 |
| Brimmer | March 9, 1966 – August 31, 1974 |
| Coldwell | October 29, 1974 – February 29, 1980 |
| Gramley | May 28, 1980 – September 1, 1985 |
| Angell | February 7, 1986 – February 9, 1994 |
| Yellen | August 12, 1994 – February 17, 1997 |
| Gramlich | November 5, 1997 – August 31, 2005 |
| Kroszner | March 1, 2006 – January 21, 2009 |
| Tarullo | January 28, 2009 – April 5, 2017 |
| Clarida | September 17, 2018 – January 14, 2022 |
| Jefferson | May 23, 2022 – present |
Seat 2 :
| Established August 10, 1914 per Federal Reserve Act ||
| Warburg | August 10, 1914 – August 9, 1918 |
| Strauss | October 26, 1918 – March 15, 1920 |
| Platt | June 8, 1920 – September 14, 1930 |
| E. Meyer | September 16, 1930 – May 10, 1933 |
| Black | May 19, 1933 – August 15, 1934 |
| Eccles | November 15, 1934 – February 1, 1936 |
| Board reorganized February 3, 1936 ||
| Davis | June 25, 1936 – April 15, 1941 |
| Evans | March 14, 1942 – August 13, 1954 |
| P. Miller | August 13, 1954 – October 21, 1954 |
| Shepardson | March 17, 1955 – April 30, 1967 |
| Sherrill | May 1, 1967 – November 15, 1971 |
| Sheehan | January 4, 1972 – June 1, 1975 |
| Jackson | July 14, 1975 – November 17, 1978 |
| Schultz | July 27, 1979 – February 11, 1982 |
| P. Martin | March 31, 1982 – April 30, 1986 |
| Heller | August 19, 1986 – July 31, 1989 |
| Mullins | May 21, 1990 – February 14, 1994 |
| Blinder | June 27, 1994 – January 31, 1996 |
| Rivlin | June 25, 1996 – July 16, 1999 |
| Olson | December 7, 2001 – June 30, 2006 |
| Yellen | October 4, 2010 – February 3, 2018 |
| Cook | May 23, 2022 – present |
Seat 3 :
| Established August 10, 1914 per Federal Reserve Act ||
| Delano | August 10, 1914 – July 21, 1918 |
| Moehlenpah | November 10, 1919 – August 9, 1920 |
| Wills | September 29, 1920 – March 4, 1921 |
| J. Mitchell | May 12, 1921 – May 12, 1923 |
| James | May 14, 1923 – February 3, 1936 |
| Board reorganized February 3, 1936 ||
| Ransom | February 3, 1936 – December 2, 1947 |
| McCabe | April 15, 1948 – March 31, 1951 |
| W. Martin | April 2, 1951 – January 31, 1970 |
| Burns | February 1, 1970 – March 31, 1978 |
| Teeters | September 18, 1978 – June 27, 1984 |
| Seger | July 2, 1984 – March 11, 1991 |
| Phillips | December 2, 1991 – June 30, 1998 |
| Bies | December 7, 2001 – March 30, 2007 |
| Duke | August 5, 2008 – August 31, 2013 |
| Brainard | June 16, 2014 – February 18, 2023 |
| Kugler | September 13, 2023 – present |
Seat 4 :
| Established August 10, 1914 per Federal Reserve Act ||
| Harding | August 10, 1914 – August 9, 1922 |
| Crissinger | May 1, 1923 – September 15, 1927 |
| Young | October 4, 1927 – August 31, 1930 |
| Szymczak | June 14, 1933 – February 1, 1936 |
| Board reorganized February 3, 1936 ||
| Eccles | February 1, 1936 – July 14, 1951 |
| Mills | February 18, 1952 – February 28, 1965 |
| Maisel | April 30, 1965 – May 31, 1972 |
| Bucher | June 5, 1972 – January 2, 1976 |
| Partee | January 5, 1976 – February 7, 1986 |
| Johnson | February 7, 1986 – August 3, 1990 |
| Lindsey | November 26, 1991 – February 5, 1997 |
| Ferguson | November 5, 1997 – April 28, 2006 |
| Mishkin | September 5, 2006 – August 31, 2008 |
| J. Powell | May 25, 2012 – present |
Seat 5 :
| Established August 10, 1914 per Federal Reserve Act ||
| A. Miller | August 10, 1914 – February 3, 1936 |
| Board reorganized February 3, 1936 ||
| McKee | February 3, 1936 – April 4, 1946 |
| Vardaman | April 4, 1946 – November 30, 1958 |
| King | March 25, 1959 – September 18, 1963 |
| Daane | November 29, 1963 – March 4, 1974 |
| Wallich | March 8, 1974 – December 15, 1986 |
| LaWare | August 15, 1988 – April 30, 1995 |
| L. Meyer | June 24, 1996 – January 31, 2002 |
| Kohn | August 5, 2002 – September 1, 2010 |
| Bloom Raskin | October 4, 2010 – March 13, 2014 |
| Waller | December 18, 2020 – present |
Seat 6 :
| Established June 3, 1922 per Act of June 3, 1922 ||
| Campbell | March 14, 1923 – March 22, 1923 |
| Cunningham | May 14, 1923 – November 28, 1930 |
| Magee | May 18, 1931 – January 24, 1933 |
| Thomas | June 14, 1933 – February 10, 1936 |
| Board reorganized February 3, 1936 ||
| Szymczak | February 10, 1936 – May 31, 1961 |
| G. Mitchell | August 31, 1961 – February 13, 1976 |
| Gardner | February 13, 1976 – November 19, 1978 |
| Rice | June 20, 1979 – December 31, 1986 |
| Kelley | May 26, 1987 – December 31, 2001 |
| Bernanke | August 5, 2002 – June 21, 2005 |
| Warsh | February 24, 2006 – April 2, 2011 |
| Stein | May 30, 2012 – May 28, 2014 |
| Quarles | October 13, 2017 – December 25, 2021 |
| Barr | July 19, 2022 – present |
Seat 7 :
| Established August 23, 1935 per Banking Act of 1935 ||
| Broderick | February 13, 1936 – September 30, 1937 |
| Draper | March 30, 1938 – September 1, 1950 |
| Norton | September 1, 1950 – January 31, 1952 |
| Robertson | February 18, 1952 – April 30, 1973 |
| Holland | June 11, 1973 – May 15, 1976 |
| Lilly | June 1, 1976 – February 24, 1978 |
| G. W. Miller | March 8, 1978 – August 9, 1979 |
| Volcker | August 9, 1979 – August 11, 1987 |
| Greenspan | August 11, 1987 – January 31, 2006 |
| Bernanke | February 1, 2006 – January 31, 2014 |
| Fischer | May 28, 2014 – October 16, 2017 |
| Bowman | November 26, 2018 – present |

## Structure of leadership

The chair, vice chair, and vice chair for supervision are appointed by the president from among the sitting members of the board to serve a four-year term and they can be renominated as many times as the president chooses, subject to Senate confirmation each time, until their terms on the Board of Governors expire.
Chair :
| Established August 10, 1914 per Federal Reserve Act ||
| Hamlin | August 10, 1914 – August 9, 1916 |
| Harding | August 10, 1916 – August 9, 1922 |
| Crissinger | May 1, 1923 – September 15, 1927 |
| Young | October 4, 1927 – August 31, 1930 |
| E. Meyer | September 16, 1930 – May 10, 1933 |
| Black | May 19, 1933 – August 15, 1934 |
| Eccles | November 15, 1934 – January 31, 1948 |
| McCabe | April 15, 1948 – March 31, 1951 |
| W. Martin | April 2, 1951 – January 31, 1970 |
| Burns | February 1, 1970 – January 31, 1978 |
| G. W. Miller | March 8, 1978 – August 6, 1979 |
| Volcker | August 6, 1979 – August 11, 1987 |
| Greenspan | August 11, 1987 – January 31, 2006 |
| Bernanke | February 1, 2006 – January 31, 2014 |
| Yellen | February 3, 2014 – February 3, 2018 |
| J. Powell | February 5, 2018 – present |
Vice Chair :
| Established August 10, 1914 per Federal Reserve Act ||
| Delano | August 10, 1914 – August 9, 1916 |
| Warburg | August 10, 1916 – August 9, 1918 |
| Strauss | October 26, 1918 – March 15, 1920 |
| Platt | July 23, 1920 – September 14, 1930 |
| Thomas | August 21, 1934 – February 10, 1936 |
| Ransom | August 6, 1936 – December 2, 1947 |
| Balderston | March 11, 1955 – February 28, 1966 |
| Robertson | March 1, 1966 – April 30, 1973 |
| G. Mitchell | March 1, 1973 – February 13, 1976 |
| Gardner | February 13, 1976 – November 19, 1978 |
| Schultz | July 27, 1979 – February 11, 1982 |
| P. Martin | March 31, 1982 – April 30, 1986 |
| Johnson | August 4, 1986 – August 3, 1990 |
| Mullins | July 24, 1991 – February 14, 1994 |
| Blinder | June 27, 1994 – January 31, 1996 |
| Rivlin | June 25, 1996 – July 16, 1999 |
| Ferguson | October 5, 1999 – April 28, 2006 |
| Kohn | June 23, 2006 – June 23, 2010 |
| Yellen | October 4, 2010 – February 3, 2014 |
| Fischer | June 16, 2014 – October 16, 2017 |
| Clarida | September 17, 2018 – January 14, 2022 |
| Brainard | May 23, 2022 – February 18, 2023 |
| Jefferson | September 13, 2023 – present |
Vice Chair for Supervision :
| Established July 21, 2010 per Dodd–Frank Act ||
| Quarles | October 13, 2017 – October 13, 2021 |
| Barr | July 19, 2022 – February 28, 2025 |
| Vacant | February 28, 2025 – present |

## Unsuccessful nominations

The below table shows those who were formally nominated to fill a vacant seat but failed to be confirmed by the Senate.
In addition some have been announced but never formally nominated before being withdrawn from consideration. Alicia Munnell, representing Boston, was announced to fill LaWare's seat by Bill Clinton in 1995. Felix Rohatyn (district unknown) was announced to fill Alan Blinder's as vice chair and his seat in 1996. Steve Moore and Herman Cain were announced to fill Bloom Raskin and Yellen's seats (without specifying which seat or district) by Donald Trump in 2019.
| Nominee | Regional Bank | Year | Vacancy | President | Outcome |
| Carol Parry | Chicago | 1999 | Susan Phillips | Bill Clinton | No action |
| Larry Klane | Richmond | 2007 | Mark Olson | George W. Bush | No action |
| Peter Diamond | Chicago | 2010 | Rick Mishkin | Barack Obama | No action |
| Peter Diamond | Chicago | 2010 | Rick Mishkin | Barack Obama | No action |
| Peter Diamond | Chicago | 2011 | Rick Mishkin | Barack Obama | Withdrawn |
| Allan Landon | San Francisco | 2015 | Sarah Bloom Raskin | Barack Obama | No action |
| Kathryn M. Dominguez | Chicago | 2015 | Jeremy Stein | Barack Obama | No action |
| Marvin Goodfriend | Philadelphia | 2017 | Sarah Bloom Raskin | Donald Trump | No action |
| Marvin Goodfriend | Philadelphia | 2018 | Sarah Bloom Raskin | Donald Trump | No action |
| Nellie Liang | Chicago | 2018 | Janet Yellen | Donald Trump | No action |
| Judy Shelton | San Francisco | 2020 | Janet Yellen | Donald Trump | No action |
| Judy Shelton | San Francisco | 2021 | Janet Yellen | Donald Trump | Withdrawn |
| Sarah Bloom Raskin | Not specified | 2022 | Randy Quarles | Joe Biden | Withdrawn |