who appoints the chair of the federal reserve system
President of the United States
title: Chair of the Federal Reserve text: Chair of the Federal Reserve The Chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, which is the central banking system of the United States. The position is known colloquially as "Chair of the Fed" or "Fed Chair". The chair is the "active executive officer" of the Board of Governors of the Federal Reserve System. The chair is chosen by the President of the United States from among the members of the Board of Governors; and serves for four-year-terms after appointment. A chair may be appointed for several consecutive terms. William title: Chair of the Federal Reserve text: System. A chair serves for a four-year term after appointment, but may be reappointed for several consecutive four-year terms. As of 2018, there have been a total of sixteen Fed Chairs. Chair of the Federal Reserve The Chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, which is the central banking system of the United States. The position is known colloquially as "Chair of the Fed" or "Fed Chair". The chair is the "active executive officer" of the Board of Governors of the Federal Reserve System. The chair is chosen by title: Chair of the Federal Reserve text: Martin was the longest serving chair, holding the position from 1951 to 1970. The current Chairman is Jerome Powell, who was sworn in on February 5, 2018. He was nominated to the position by President Donald Trump on November 2, 2017, and was later confirmed by the United States Senate. Section 203 of the Banking Act of 1935 changed the name of the "Federal Reserve Board" to the "Board of Governors of the Federal Reserve System." The directors' salaries were significantly lower (at $12,000 when first appointed in 1914) and their terms of office were much shorter prior to 1935. title: Chair of the Federal Reserve text: sitting Governors for four-year terms; these appointments are also subject to Senate confirmation. The Senate Committee responsible for vetting a Fed Reserve Chair nominee is the Senate Committee on Banking. By law, the chair reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Treasury Secretary. The law applicable to the Chair and all other members of the Board provides (in part): The following is a list of past and present Chairs of the Board of Governors of the Federal Reserve title: Chair of the Federal Reserve text: In effect, the Federal Reserve Board members in Washington, D.C., were significantly less powerful than the presidents of the regional Federal Reserve Banks prior to 1935. In the 1935 Act, the district heads had their titles changed to "President" (e.g., "President of the Federal Reserve Bank of St. Louis"). As stipulated by the Banking Act of 1935, the President of the United States appoints the seven members of the Board of Governors; they must then be confirmed by the Senate and serve fourteen year terms. The nominees for chair and vice-chair may be chosen by the President from among the