The chair of the Board of Governors of the Fed must resign when a new president is elected.

Name: The chair of the Board of Governors of the Fed must resign when a new president is elected.
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The chair of the Board of Governors of the Fed does not have to resign when a new president is elected. Their term can last up to four years longer than a presidential term, and they can only be removed for cause by the president.

The Chair of the Board of Governors of the Fed