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Who has to leave the Federal Reserve next?
The leadership of the Federal Reserve has undergone substantial turnover in the past few years. President Biden has put four new governors on the seven-member Federal Reserve Board in Washington, and several of the 12 regional Fed banks have named new presidents. The president of the Cleveland Fed reaches mandatory retirement age in June 2024. By law, the president nominates a Fed chair and two vice chairs for four-year terms. They must be confirmed by the Senate for those positions in a vote distinct from their confirmation as members of the Fed Board of Governors. Jerome Powell was confirmed for a second four-year ... (full story)