The Federal Reserve Board consists of seven members who serve 14-year terms,are appointed by the president,and are confirmed by the Senate.

Question

Quizplus · Accepted Answer

This is correct according to the Federal Reserve Act. The seven members of the Federal Reserve Board, including the Chair and Vice Chair, are appointed by the President and confirmed by the Senate. Each member serves a 14-year term, but their terms are staggered so that one member's term expires every two years.

The Federal Reserve Board Consists of Seven Members Who Serve