Vice Chair of the Federal Reserve

Vice Chair of the Board of Governors of the Federal Reserve System
Seal of the Board of Governors
Flag of the Federal Reserve System
Incumbent Philip Jefferson since September 13, 2023
United States Federal Reserve System
Member of	Board of Governors Open Market Committee
Reports to	United States Congress
Seat	Eccles Building Washington, D.C.
Appointer	President with Senate advice and consent
Term length	Four years, renewable (as Vice Chair) 14 years, non-renewable (as Governor)
Constituting instrument	Federal Reserve Act
Formation	August 10, 1914; 109 years ago (1914-08-10)
First holder	Frederic Adrian Delano
Salary	Executive Schedule, Level II[1]
Website	www.federalreserve.gov

The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve, after the chair of the Federal Reserve. In the absence of the chair, the vice chair presides over the meetings Board of Governors of the Federal Reserve System.

The vice chair and the vice chair for supervision each serve a four-year term after being nominated by the president of the United States and confirmed by the United States Senate, and they serve concurrently as members of the Board of Governors. Both vice chairs may serve multiple terms, pending a new nomination and confirmation at the end of each term, with Ronald Ransom as the longest serving vice chair from 1936 to 1947. They cannot be dismissed by the president before the end of their term.^[2]

The position of vice chair is currently held by Philip Jefferson who was sworn in on September 13, 2023.^[3] The position of vice chair for supervision is currently held by Michael Barr who was sworn in on July 19, 2022.^[4]