Congress founded the Federal Reserve, the central bank of the United States, in 1913. It conducts the nation's monetary policy and regulates its banks in order to achieve a flexible and stable economy. The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate to serve 14-year terms. The chairman of the Board of Governors is Alan Greenspan. The chairman and the vice chairman of the board are named by the president from among the members and are confirmed by the Senate. They serve a term of four years.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). federal reserve board. Retrieved September 30, 2026, from http://smartdefine.org/federal_reserve_board/definitions/1153773 |
| Chicago | Barry Goldsmith. 2010. "federal reserve board" http://smartdefine.org/federal_reserve_board/definitions/1153773 (accessed September 30, 2026). |
| Harvard | Barry Goldsmith 2010, federal reserve board, Smart Define, viewed 30 September, 2026, <http://smartdefine.org/federal_reserve_board/definitions/1153773>. |
| MLA | Barry Goldsmith. "federal reserve board" 21 October 2010. Web. 30 September 2026. <http://smartdefine.org/federal_reserve_board/definitions/1153773> |