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.
Delran Township is a township in Burlington County,in the U.S. state of New Jersey. As of the 2020 United States census,the township's population was 17,882,an increase of 986 (+5.8%) from the 2010 census count of 16,896,which in turn reflected an increase of 1,360 (+8.8%) from the 15,536 counted in the 2000 census. The township,and all of Burlington County,is a part of the Philadelphia-Reading-Camden combined statistical area and the Delaware Valley.
The chairman of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve,and is the active executive officer of the Board of Governors of the Federal Reserve System. The chairman presides at meetings of the Board.
Paul Adolph Volcker Jr. was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman,Volcker was widely credited with having ended the high levels of inflation seen in the United States throughout the 1970s and early 1980s,with measures known as the Volcker shock. He previously served as the president of the Federal Reserve Bank of New York from 1975 to 1979.
The Federal Open Market Committee (FOMC) is a committee within the Federal Reserve System that is charged under United States law with overseeing the nation's open market operations. This Federal Reserve committee makes key decisions about interest rates and the growth of the United States money supply. Under the terms of the original Federal Reserve Act,each of the Federal Reserve banks was authorized to buy and sell in the open market bonds and short term obligations of the United States Government,bank acceptances,cable transfers,and bills of exchange. Hence,the reserve banks were at times bidding against each other in the open market. In 1922,an informal committee was established to execute purchases and sales. The Banking Act of 1933 formed an official FOMC.
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 woman to hold either post,and has also led the White House Council of Economic Advisers. Yellen is the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Economics at the University of California,Berkeley.
Stanley Fischer is an Israeli-American economist who served as the 20th vice chair of the Federal Reserve from 2014 to 2017. Fischer previously served as the 8th governor of the Bank of Israel from 2005 to 2013. Born in Northern Rhodesia,he holds dual citizenship in Israel and the United States. He previously served as First Deputy Managing Director of the International Monetary Fund and as Chief Economist of the World Bank. On January 10,2014,President Barack Obama nominated Fischer to the position of Vice Chair of the Federal Reserve. He is a senior advisor at BlackRock. On September 6,2017,Stanley Fischer announced that he was resigning as Vice-Chair for personal reasons effective October 13,2017,two days before his 74th birthday.
Ben Shalom Bernanke is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve,he was appointed a distinguished fellow at the Brookings Institution. During his tenure as chairman,Bernanke oversaw the Federal Reserve's response to the 2007–2008 financial crisis,for which he was named the 2009 Time Person of the Year. Before becoming Federal Reserve chairman,Bernanke was a tenured professor at Princeton University and chaired the Department of Economics there from 1996 to September 2002,when he went on public service leave. Bernanke was awarded the 2022 Nobel Memorial Prize in Economic Sciences,jointly with Douglas Diamond and Philip H. Dybvig,"for research on banks and financial crises",more specifically for his analysis of the Great Depression.
Donald Lewis Kohn is an American economist who served as the 18th vice chair of the Federal Reserve from 2006 to 2010. Prior to his term as vice chair,Kohn served as a member of the Federal Reserve Board of Governors,taking office in 2002. Fed's veteran,he retired after 40 years at the central bank,currently serving on the Financial Policy Committee for the Bank of England and as a Senior Fellow at the Brookings Institution.
The Federal Reserve Bank of Atlanta,,is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta,Georgia.
Kevin Maxwell Warsh is an American financier and bank executive who served as a member of the Federal Reserve Board of Governors from 2006 to 2011.
Dennis P. Lockhart is an American economist. He was the 14th President and CEO of the Federal Reserve Bank of Atlanta,serving from March 1,2007,through February 28,2017.
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.
Narayana Rao Kocherlakota is an American economist and the Lionel W. McKenzie Professor of Economics at the University of Rochester. Previously,he served as the 12th president of the Federal Reserve Bank of Minneapolis until December 31,2015. Appointed in 2009,he joined the Federal Open Markets Committee in 2011. In 2012,he was named one of the top 100 Global Thinkers by Foreign Policy magazine.
Richard Harris Clarida is an American economist who served as the 21st Vice Chair of the Federal Reserve from 2018 to 2022. Clarida resigned his post on January 14,2022,to return from public service leave to teach at Columbia University for the spring term of 2022. He is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University and,from 2006 until September 2018 and from October 2022 to the present,a Global Strategic Advisor for PIMCO. He is notable for his contributions to dynamic stochastic general equilibrium theory and international monetary economics. He is a former Assistant Secretary of the Treasury for Economic Policy and is a recipient of the Treasury Medal. He also was a proponent of the theory that inflation was transitory during the COVID-19 pandemic.
Thomas I. Barkin is an American central banker,who became the eighth president and CEO of the Federal Reserve Bank of Richmond on January 1,2018. He worked at global management consulting firm McKinsey &Company for 30 years in increasingly senior positions,including as global chief financial officer (CFO) and chief risk officer,with oversight of finance,legal and information technology functions,among others. He also served on the executive committee of the Metro Atlanta Chamber of Commerce,as an Emory University Board of Trustees member,and former board member and chairman of the Federal Reserve Bank of Atlanta.
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.
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.
Philip Nathan Jefferson is an American economist who has been serving as 23rd Vice Chair of the Federal Reserve since September 2023. He has been a member of the Federal Reserve Board of Governors since 2022. He was nominated for the position by President Joe Biden in January 2022,and was confirmed by the Senate in May 2022. Upon taking office,he became the fourth Black man to serve on the board.
Christopher J. Waller is an American economist who is a member of the Federal Reserve Board of Governors since 2020. A nominee of then-President Donald Trump,he was confirmed by the Senate in December 2020,to serve through January 2030.
