(US GOVERNMENT) one of two governing boards of the US Federal Reserve System (the Usonian Central Bank). The FRB consists of seven governors appointed by the White House to staggered terms of 14 years.
Governor appointments are subject to Senate confirmation.
The FRB sets monetary policy. Its seven members also serve on the other governing board of the Fed, the FOMC. However, the FRB has sole responsibility for discount rates and reserve requirements, and it is also responsible for enforcement of banking regulation.
Governor appointments are subject to Senate confirmation.
The FRB sets monetary policy. Its seven members also serve on the other governing board of the Fed, the FOMC. However, the FRB has sole responsibility for discount rates and reserve requirements, and it is also responsible for enforcement of banking regulation.
Despite the fact that the Chairman of the Federal Reserve Board has the same power as the other six governors, most people have only heard of Alan Greenspan (1987-2006) or Ben Bernanke (2006-present). About the same time, Susan M. Phillips (1991-1998) held approximately equal power on the Board; so did Roger W. Ferguson, Jr. (1997-2006).
Because governors almost never serve their full terms, there are currently only five governors on the board. The two longest-serving members, Bernanke and Vice Chair Donald Kohn, have only been there since August 2002.
Because governors almost never serve their full terms, there are currently only five governors on the board. The two longest-serving members, Bernanke and Vice Chair Donald Kohn, have only been there since August 2002.
by Abu Yahya June 17, 2010
Get the Federal Reserve Board mug.the act of a certain person, with red hair, is a vegetable, and constanly bobs his head and says "yeah". This is when he pees his pants in front of the entire band, and tells a certain someone, "yeah, man, it was just an accident"
by Si Senor Sabate October 20, 2006
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derogatory term for a serving member of the armed forces, used in the Bush family between Jeb & Dubya after the term was originally coined by their father George H W Bush.
Jeb: Lucky you dodged out of Vietnam in that champagne squadron bro'
Dubya:Sure, not like those dumb fodder units in Iraq.
Both:HAHAHAHAHA!
Dubya:Sure, not like those dumb fodder units in Iraq.
Both:HAHAHAHAHA!
by Armchair Field-Marshal October 31, 2006
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Get the Fodger mug.by Her Radicalness September 15, 2005
Get the federal mug.Some shitty band who think they're rock when in fact they're just another sugary pop band. When will this world learn?
One of them needs to die her roots, the other thinks she's "hardcore" with her red hair and I can't remember the other member. The music's shit!
by Lizzy March 12, 2005
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