High Quality Content by WIKIPEDIA articles! The Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or Fed Chief. The Chairman is the active executive officer of the Board of Governors of the Federal Reserve System. As stipulated in the Banking Act of 1935, the chairman is one of seven members of the Board of Governors of the Federal Reserve System who are appointed by the President from among the sitting Governors.The chairman is subject to Senate confirmation to a four-year term. In practice the chairman is often re-appointed, but cannot serve longer than one 14-year term as governor . By law, the chairman reports twice a year to Congress on the Federal Reserve's monetary policy objectives. He or she also testifies before Congress on numerous other issues and meets periodically with the Secretary of the Treasury.

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