Back رئيس مجلس المحافظين للنظام الاحتياطي الفدرالي Arabic Presidente del Sistema de la Reserva Federal Spanish رئیس فدرال رزرو Persian Presidente da Reserva Federal dos Estados Unidos de América Galician Դաշնային պահուստի նախագահ Armenian Presidente del Federal Reserve System Italian 連邦準備制度理事会議長 Japanese 연방준비제도 이사회 의장 Korean फेडरल रिजर्भका अध्यक्ष Nepali Voorzitter van het Federal Reserve System Dutch

Chair of the Federal Reserve

Chair of the Board of Governors of the Federal Reserve System
Seal of the Board of Governors
Flag of the Federal Reserve System
Incumbent
Jerome Powell
since February 5, 2018
United States Federal Reserve System
StyleMr. Chairman
Member ofBoard of Governors
Open Market Committee
Reports toUnited States Congress
SeatEccles Building
Washington, D.C.
AppointerPresident
with Senate advice and consent
Term lengthFour years, renewable (as Chair)
14 years, non-renewable (as Governor)
Constituting instrumentFederal Reserve Act
FormationAugust 10, 1914 (1914-08-10)
First holderCharles Sumner Hamlin
DeputyVice Chair of the Federal Reserve
SalaryExecutive Schedule, Level I[1]
Websitefederalreserve.gov

The chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, and is the active executive officer of the Board of Governors of the Federal Reserve System. The chairman presides at meetings of the Board.[2]

The chairman serves a four-year term after being nominated by the president of the United States and confirmed by the United States Senate; the officeholder serves concurrently as a member of the Board of Governors. The chairman may serve multiple terms, subject to re-nomination and confirmation each time; William McChesney Martin (1951–1970) was the longest serving chair, with Alan Greenspan (1987–2006) a close second. As of April 2025 neither the president nor congress of the US can dismiss a chairman before the end of a term.[3]

Jerome Powell was sworn in as chairman on February 5, 2018.[4][5] He had been first nominated to the position by President Donald Trump on November 2, 2017,[6] and confirmed by the Senate. He was nominated to a second term by President Joe Biden, confirmed by the Senate, and sworn in on May 23, 2022.[7][8]

  1. ^ 5 U.S.C. § 5312
  2. ^ Cite error: The named reference chairappointment was invoked but never defined (see the help page).
  3. ^ "12 U.S. Code § 244 - Principal offices of Board; chairman of Board; obligations and expenses; qualifications of members; vacancies". LII / Legal Information Institute. Retrieved April 18, 2025.
  4. ^ "Jerome H. Powell sworn in as Chairman of the Board of Governors of the Federal Reserve System". Board of Governors of the Federal Reserve System. Archived from the original on February 6, 2018. Retrieved February 5, 2018.
  5. ^ Cox, Jeff (February 5, 2018). "Jerome Powell takes the reins at the Fed amid market sell-off, jump in yields". CNBC. Archived from the original on February 5, 2018. Retrieved February 6, 2022.
  6. ^ Gensler, Lauren (November 2, 2017). "Trump Taps Jerome Powell As Next Fed Chair In Call For Continuity". Forbes. Archived from the original on November 2, 2017. Retrieved November 3, 2017.
  7. ^ "Jerome H. Powell sworn in for second term as Chair of the Board of Governors of the Federal Reserve System". Board of Governors of the Federal Reserve System. Archived from the original on May 23, 2022. Retrieved May 23, 2022.
  8. ^ Saphir, Ann (May 23, 2022). "Powell sworn in to second four-year term as U.S. Fed chief". Reuters. Archived from the original on September 2, 2022.

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