Chairman of the Federal Reserve

From Free net encyclopedia

The Chairman of the Board of Governors of the United States Federal Reserve is the head of the central bank of the United States and one of the more important decision-makers in American economic policies. The Federal Reserve is an independent agency of the United States Government.

The position was created in 1914; previously the United States lacked a central bank. See also History of Central Banking in the United States. The chairman is appointed for a four-year term by the President of the United States (subject to Senate confirmation). In practice, the chairman is often re-appointed several times. The chairman reports twice a year to Congress on the Federal Reserve's monetary policy objectives, testifies before Congress on numerous other issues, and meets periodically with the Secretary of the Treasury.

The current chairman is Ben Bernanke, who was appointed by George W. Bush and sworn into office on February 1, 2006 for a term lasting until 2010. Bernanke was preceded by Alan Greenspan, who served for more than 18 years under four U.S. Presidents.

[edit]

Chairmen of the Federal Reserve

  1. Charles S. Hamlin (August 10, 1914 – August 9, 1916)
  2. William P. G. Harding (August 10, 1916 – August 9, 1922)
  3. Daniel R. Crissinger (May 1, 1923 – September 15, 1927)
  4. Roy A. Young (October 4, 1927 – August 31, 1930)
  5. Eugene Meyer (September 16, 1930 – May 10, 1933)
  6. Eugene R. Black (May 19, 1933 – August 15, 1934)
  7. Marriner S. Eccles¹ (November 15, 1934 – January 31, 1948)
  8. Thomas B. McCabe (April 15, 1948 – March 31, 1951)
  9. William McChesney Martin, Jr. (April 2, 1951 – January 31, 1970)
  10. Arthur F. Burns (February 1, 1970 – January 31, 1978)
  11. G. William Miller (March 8, 1978 – August 6, 1979)
  12. Paul A. Volcker (August 6, 1979 – August 11, 1987)
  13. Alan Greenspan² (August 11, 1987 – January 31,2006)
  14. Ben Bernanke (February 1, 2006 – )

¹ Served as Chairman Pro Tempore from February 3, 1948, to April 15, 1948.
² Served as Chairman Pro Tempore from March 3, 1996, to June 20, 1996.

[edit]

References

  • Andrews, Edmund L. (Nov. 5, 2005). "All for a more open Fed". New Straits Times, p. 21.
Retrieved from "http://www.netipedia.com/index.php/Chairman_of_the_Federal_Reserve"