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.
The Board of Governors of the United States Postal Service is the governing body of the United States Postal Service (USPS). The board oversees the activities of the Postal Service, while the postmaster general actively manages its day-to-day operations.
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.
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.
George William Miller was an American businessman and investment banker who served as the 65th United States secretary of the treasury from 1979 to 1981. A member of the Democratic Party, he also served as the 11th chairman of the Federal Reserve from 1978 to 1979. Miller was the first person to hold both of those posts.
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms. It is headquartered in the Eccles Building on Constitution Avenue, N.W. in Washington, D.C.
Jamin Ben Raskin is an American attorney, law professor, and politician serving as the U.S. representative for Maryland's 8th congressional district since 2017. A member of the Democratic Party, he served in the Maryland State Senate from 2007 to 2016. The district previously included portions of Montgomery County, a suburban county northwest of Washington, D.C., and extended through rural Frederick County to the Pennsylvania border. Since redistricting in 2022, Raskin's district now encompasses only part of Montgomery County.
Randal Keith Quarles is an American private equity investor and attorney who served as the first Vice Chair of the Federal Reserve for supervision from 2017 to 2021. He concurrently served as the chair of the Financial Stability Board from 2018 to 2021.
Lael Brainard is an American economist serving as the 14th director of the National Economic Council since February 21, 2023. She previously served as the 22nd vice chair of the Federal Reserve between May 2022 and February 2023. Prior to her term as vice chair, Brainard served as a member of the Federal Reserve Board of Governors, taking office in 2014. Before her appointment to the Federal Reserve, she served as the under secretary of the treasury for international affairs from 2010 to 2013.
Alicia Haydock Munnell is an American economist who is the Peter F. Drucker Professor of Management Sciences at Boston College's Carroll School of Management. Educated at Wellesley College, Boston University, and Harvard University, Munnell spent 20 years as an economist at the Federal Reserve Bank of Boston, where she researched wealth, savings, and retirement among American workers. She served in the Bill Clinton administration as Assistant Secretary of the Treasury for Economic Policy and as a member of the Council of Economic Advisers. Since 1997 she has been a professor at Boston College and director of its Center for Retirement Research, where she writes on retirement income policy.
Michael S. Barr is an American legal scholar who has been serving as second vice chair of the Federal Reserve for supervision since 2022. From 2009 to 2011, he was assistant secretary of the treasury for financial institutions under President Barack Obama. At the University of Michigan, he has been serving as faculty member since 2001, professor of law since 2006, professor of public policy since 2014.
Jerome Hayden "Jay" Powell is an American attorney and investment banker who has served since 2018 as the 16th chair of the Federal Reserve.
Judy Lynn Shelton is an American economic advisor to former President Donald Trump. She is known for her advocacy for a return to the gold standard and for her criticisms of the Federal Reserve. Trump announced on July 2, 2019, that he would nominate Shelton to the Fed. Her nomination stalled on November 17, 2020, with a 47–50 vote in the Senate, and her nomination was eventually withdrawn by President Joe Biden in February 2021.
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.
Jean Nellie Liang is an economist who currently serves as President Joe Biden's Under Secretary of the Treasury for Domestic Finance.
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.
Saule Tarikhovna Omarova is a Kazakh-American attorney, academic, and public policy advisor. She was the nominee for comptroller of the currency before her nomination was withdrawn at her request on December 7, 2021.
The American Accountability Foundation (AAF) is an American conservative opposition research group founded in 2020 that has opposed nominees to the Joe Biden administration.
