The Federal Reserve System is the central banking system of the United States. It was created on December 23,1913,with the enactment of the Federal Reserve Act,after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years,events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
Janet Louise Yellen is an American economist serving as the 78th United States secretary of the treasury since January 26,2021. She previously served as the 15th chair of the Federal Reserve from 2014 to 2018. She is the first person to hold those positions having also led the White House Council of Economic Advisers and the first woman to hold either post.
William McChesney Martin Jr. was an American business executive who served as the 9th chairman of the Federal Reserve from 1951 to 1970,making him the longest holder of that position. He was nominated to the post by President Harry S. Truman and reappointed by four of his successors. Martin,who once considered becoming a Presbyterian minister,was described by a Washington journalist as "the happy Puritan".
The Harry S. Truman Presidential Library and Museum is the presidential library and resting place of Harry S. Truman,the 33rd president of the United States (1945–1953),his wife Bess and daughter Margaret,and is located on U.S. Highway 24 in Independence,Missouri. It was the first presidential library to be created under the provisions of the 1955 Presidential Libraries Act,and is one of thirteen presidential libraries administered by the National Archives and Records Administration.
Commerce Bancshares,Inc. is a regional bank holding company based in Missouri,United States,with primary hubs in Kansas City and St. Louis. It is the corporate parent of Commerce Bank,which offers a diversified line of financial services,including business and personal banking,wealth management and investments through its affiliated companies.
The Federal Reserve Bank of Kansas City is located in Kansas City,Missouri and covers the 10th District of the Federal Reserve,which includes Colorado,Kansas,Nebraska,Oklahoma,Wyoming,and portions of western Missouri and northern New Mexico. It is second only to the Federal Reserve Bank of San Francisco in size of geographic area served. Missouri is the only state with two main Federal Reserve Banks;the other is located in St. Louis.
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that,along with the Board of Governors in Washington,D.C.,make up the United States' central bank. Missouri is the only state to have two main Federal Reserve Banks.
Cathy E. Minehan was President and Chief Executive Officer of the Federal Reserve Bank of Boston from 1994 until her retirement in July 2007. Minehan also served as a member of the Federal Open Market Committee,the body responsible for U.S. monetary policy. She was "appointed Dean of the School of Management of Simmons College,a private university,in August 2011 and is Managing Director of Arlington Advisory Partners,a private advisory services firm."
Harry S. Truman was the 33rd president of the United States,serving from 1945 to 1953. A member of the Democratic Party,he previously served as a United States senator from Missouri from 1935 to 1945 and briefly as the 34th vice president in 1945 under Franklin D. Roosevelt. Assuming the presidency after Roosevelt's death,Truman implemented the Marshall Plan in the wake of World War II to rebuild the economy of Western Europe and established both the Truman Doctrine and NATO to contain the expansion of Soviet communism. He proposed numerous liberal domestic reforms,but few were enacted by the conservative coalition that dominated the Congress.
Faucett is an unincorporated community and census-designated place in southern Buchanan County,Missouri,United States. It is located sixteen miles north of Platte City on Interstate 29 (Missouri)/U.S. Route 71. The community is part of the St. Joseph,MO–KS Metropolitan Statistical Area. The population was 248 at the 2020 census.
Sheila Colleen Bair is an American former government official who was the 19th Chair of the U.S. Federal Deposit Insurance Corporation (FDIC) from 2006 to 2011,during which time she shortly after taking charge of the FDIC in June 2006 began warning of the potential systemic risks posed by the growing trend of subprime-mortgage-backed bonds,and then later assumed a prominent role in the government's response to the 2008 financial crisis. She was appointed to the post for a five-year term on June 26,2006,by George W. Bush through July 8,2011. She was subsequently the 28th president of Washington College in Chestertown,MD,the first female head of the college in its 234-year history,a position she held from 2015 until her resignation in 2017.
Thomas Michael Hoenig is a Distinguished Senior Fellow at the Mercatus Center. He became a director of the Federal Deposit Insurance Corporation on April 16,2012,and served as vice chairman from November 30,2012 to April 30,2018. From 1991 to 2011,he served as the eighth chief executive of the Tenth District Federal Reserve Bank,in Kansas City,United States. In 2010,he was serving as a voting member of the Federal Open Market Committee,as one of five of the twelve Federal Reserve Bank presidents that sit on the Committee on a yearly rotating basis. He is known as an "anti-inflation hawk".
Eric S. Rosengren took office on July 20,2007,as the thirteenth president and chief executive officer of the Federal Reserve Bank of Boston,serving the First District. As a Fed president,he was a participant and voting member of the Federal Open Market Committee. He retired on September 30,2021.
925 Grand is the former headquarters of the Federal Reserve Bank of Kansas City and was the oldest building in active use of any Federal Reserve Bank. It was added to the National Register of Historic Places in 2007.
Betsy Duke is an American bank executive who served as a member of the Federal Reserve Board of Governors from 2008 to 2013. Duke was confirmed by the Senate to fill an unexpired term ending January 31,2012. She was the seventh woman to be appointed to the board. In July 2013,she announced her resignation from the board.
Alison Fitzgerald Kodjak is an American journalist and currently works for the Associated Press as its Washington investigations editor. She previously reported for the AP from 1997 to 2000. She formerly worked for National Public Radio,where she led the science desk,the Center for Public Integrity,and at Bloomberg News for 10 years,and has also worked as a reporter for newspapers,including The Philadelphia Inquirer. She is a two-time winner of the George Polk Award,one of journalism's most prestigious honors.
Robert Steven Kaplan was most recently the president and CEO of the Federal Reserve Bank of Dallas and is a former long-time Goldman Sachs executive.
Lisa DeNell Cook is an American economist who has served as a member of the Federal Reserve Board of Governors since May 23,2022. She is the first African American woman and first woman of color to sit on the Board. Before her appointment to the Federal Reserve,she was elected to the board of directors of the Federal Reserve Bank of Chicago.
Michelle White "Miki" Bowman is an American attorney who served as a member of the Federal Reserve Board of Governors since 2018. She is the first person to fill the community bank seat on the board,a seat created by a 2015 law.
Mary Colleen Daly is an American economist,who became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco on October 1,2018. She serves on the Federal Reserve's rate-setting Federal Open Market Committee on a rotating basis. Previously,Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco,which she joined as an economist in 1996.
