Asked by: Iolanda Louçeira
asked in category: General Last Updated: 18th March, 2020

What does the Board of Governors of the Federal Reserve System do?

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.

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Subsequently, one may also ask, which type of policy is controlled by the Board of Governors of the Federal Reserve?

monetary policy

Additionally, what are the duties of the Chairman of the Board of Governors? Officially, the chairman is the active executive officer of the Federal Reserve Board . The main responsibility of the chairman is to carry out the mandate of the Fed, which is to promote the goals of maximum employment, stable prices, and moderate long-term interest rates.

In this regard, how many members are in the Federal Reserve Board of Governors?

seven members

How much do Federal Reserve governors make?

The salary for the Chairman of the Federal Reserve is set by the U.S. Congress. For 2019, the annual salary for the Fed Chairman is $203,500 . The annual salary of the other Fed Governors is $183,100 .

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