Chair of the Federal Reserve

The Chair of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. The position is known colloquially as ‘Chair of the Fed’ or ‘Fed Chair’ The chair reports to the U.S. Congress twice a year on progress towards the Fed’s responsibilities and monetary policy objectives.

About Chair of the Federal Reserve in brief

Summary Chair of the Federal ReserveThe Chair of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. The position is known colloquially as ‘Chair of the Fed’ or ‘Fed Chair’ The chair reports to the U.S. Congress twice a year on progress towards the Fed’s responsibilities and monetary policy objectives. The current Chair is Jerome Powell, who was sworn in on February 5, 2018.

He was nominated to the position by President Donald Trump on November 2, 2017, and was later confirmed by the Senate. William Martin was the longest serving chair, holding the position from 1951 to 1970. The chair does not serve at the pleasure of the President, meaning that he or she cannot be dismissed by the President.