> United States > Independent Agencies
|Established|| December 23, 1913|
|Disbanded|| Still Active |
|Last Modified||Scott³ January 28, 2006 01:07pm|
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. A member who completes an unexpired portion of a term may be reappointed.
All terms end on their statutory date regardless of the date on which the member is sworn into office.
The Chairman and the Vice Chairman of the Board are named by the President from among the
members and are confirmed by the Senate. They serve a term of four years. A member's term on
the Board is not affected by his or her status as Chairman or Vice Chairman.