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Seventh Edition - The Addison-Wesley Series in Economics Phần 6

Các thống đốc (nhiều nhà kinh tế chuyên nghiệp) được yêu cầu đến từ các huyện Dự trữ Liên bang khác nhau để ngăn chặn các lợi ích của một khu vực của đất nước được overrepresented. | CHAPTER 14 Structure of Central Banks and the Federal Reserve System 341 www.federalreserve.gov bios Z1199member.pdf Lists all the members of the Board of Governors of the Federal Reserve since its inception. nonrenewable 14-year term with one governors term expiring every other January.1 The governors many are professional economists are required to come from different Federal Reserve districts to prevent the interests of one region of the country from being overrepresented. The chairman of the Board of Governors is chosen from among the seven governors and serves a four-year term. It is expected that once a new chairman is chosen the old chairman resigns from the Board of Governors even if there are many years left to his or her term as a governor. The Board of Governors is actively involved in decisions concerning the conduct of monetary policy. All seven governors are members of the FOMC and vote on the conduct of open market operations. Because there are only 12 voting members on this committee seven governors and five presidents of the district banks the Board has the majority of the votes. The Board also sets reserve requirements within limits imposed by legislation and effectively controls the discount rate by the review and determination process whereby it approves or disapproves the discount rate established by the Federal Reserve banks. The chairman of the Board advises the president of the United States on economic policy testifies in Congress and speaks for the Federal Reserve System to the media. The chairman and other governors may also represent the United States in negotiations with foreign governments on economic matters. The Board has a staff of professional economists larger than those of individual Federal Reserve banks which provides economic analysis that the board uses in making its decisions. Box 3 discusses the role of the research staff. Through legislation the Board of Governors has often been given duties not directly related to the .