When you think of the Federal Reserve, you probably think of Janet Yellen.
But can you name anyone else at the central bank?
The Fed is made up of three parts: Board of Governors, Federal Open Market Committee and the Federal Reserve Banks.
The leadership of these entities are not exactly separate – there is plenty of overlap.
So, let’s start with the Board of Governors. There are 7 governors each with a 14 year term. They are nominated by the President of the United States. Think of this group as “the guardian” of the Fed.
They make sure everything runs smoothly. They also keep an eye on the regional banks.
So who’s on the Board of Governors?
Obviously we have Janet Yellen,
She has a Vice Chairman, Stanley Fischer.
During the financial crisis he ran Israel’s central bank.
He is a rather visible member of the Fed. You will sometimes see Fischer make speeches about the economy and give media interviews. His term expires next year.
There’s also Lael Brainard.
Brainard was also reportedly Hillary Clinton’s choice for Treasury Secretary if she won the election.
source
