when two or more boards exist within an entity the board of governors often reigns supreme as the decision making authority 
who are the current board of governors of the federal reserve a maximum of seven governors can serve on the board of governors of the federal reserve the members of the current board of governors of the federal reserve are jerome h powell michael s barr lael brainard michelle w bowman lisa d cook philip n jefferson and christopher j waller 1who nominates and confirms the fed board of governors the governors of the board of governors of the federal reserve are nominated by the president of the united states and confirmed by the u s senate 1