What Is a Federal Reserve Chairman?
The Federal Reserve Chairman is the head of the United States Federal Reserve, the nation’s central bank. The official title is Chairman of the Board of Governors of the Federal Reserve System, but Federal Reserve Chairman, Fed Chair, and Fed Chief are all used as shorthand titles. The Federal Reserve Chairman is appointed by the President of the United States, and is confirmed by the United States Senate. The term of the Federal Reserve Chairman is four years, but in practice most Chairmen last for many terms, up to a maximum of 14 years, plus any extra years in the case of those filling another’s term. The idea of a central bank goes back to the early days of the nation, with the First Bank of the United States established in 1791 after being suggested by Alexander Hamilton. In 1816, the Second Bank of the United States was established, to replace the then defunct First Bank. Many people in these early days opposed the idea of a central bank, and when President Andrew Jackson was up
The Federal Reserve Chairman is the head of the United States Federal Reserve, the nation’s central bank. The official title is Chairman of the Board of Governors of the Federal Reserve System, but Federal Reserve Chairman, Fed Chair, and Fed Chief are all used as shorthand titles. The Federal Reserve Chairman is appointed by the President of the United States, and is confirmed by the United States Senate. The term of the Federal Reserve Chairman is four years, but in practice most Chairmen last for many terms, up to a maximum of 14 years, plus any extra years in the case of those filling another’s term. The idea of a central bank goes back to the early days of the nation, with the First Bank of the United States established in 1791 after being suggested by Alexander Hamilton. In 1816, the Second Bank of the United States was established, to replace the then defunct First Bank. Many people in these early days opposed the idea of a central bank, and when President Andrew Jackson was up
