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Federal Reserve: Reserve Bank Boards of Directors

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Abstract

The boards of directors of the 12 Federal Reserve Banks are not typical boards. To be sure, they carry out many of the usual responsibilities of corporate governance, such as approving a strategic plan and monitoring operations, auditing and risk, human resources, executive compensation, and the like. But unlike private sector boards that are primarily concerned with firms' financial health and growth projections, Fed directors are also charged with a much broader task that makes them not just unique among institutional boards, but within American society at large: assisting in the formulation of monetary policy.

Suggested Citation

  • Matthew Wells, 2023. "Federal Reserve: Reserve Bank Boards of Directors," Econ Focus, Federal Reserve Bank of Richmond, vol. 23(4Q), pages 4-7, December.
    • Handle: RePEc:fip:fedrrf:97487
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