| Vice Chair of the Board of Governors of the Federal Reserve System | |
|---|---|
 Seal of the Board of Governors | |
 Flag of the Federal Reserve System | |
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| United States Federal Reserve System | |
| Member of | Board of Governors Open Market Committee |
| Reports to | United States Congress |
| Seat | Eccles Building Washington, D.C. |
| Appointer | President with Senate advice and consent |
| Term length | Four years, renewable (as Vice Chair) 14 years, non-renewable (as Governor) |
| Constituting instrument | Federal Reserve Act |
| Formation | August 10, 1914 |
| First holder | Frederic Adrian Delano |
| Salary | Executive Schedule, Level II[1] |
| Website | www.federalreserve.gov |
The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve, after the chair of the Federal Reserve. In the absence of the chair, the vice chair presides over the meetings Board of Governors of the Federal Reserve System.
The vice chair and the vice chair for supervision each serve a four-year term after being nominated by the president of the United States and confirmed by the United States Senate, and they serve concurrently as members of the Board of Governors. Both vice chairs may serve multiple terms, pending a new nomination and confirmation at the end of each term, with Ronald Ransom as the longest serving vice chair from 1936 to 1947. They cannot be dismissed by the president before the end of their term.[2]
The position of vice chair is currently held by Philip Jefferson who was sworn in on September 13, 2023.[3] The position of vice chair for supervision is currently held by Michael Barr who was sworn in on July 19, 2022.[4]
- ^ 5 U.S.C. § 5313
- ^ "Can the President Fire the Chairman of the Federal Reserve?". Archived from the original on July 27, 2020. Retrieved August 26, 2019.
- ^ "Philip N. Jefferson sworn in as Vice Chair of the Board of Governors of the Federal Reserve System". Federal Reserve. Retrieved September 13, 2023.
- ^ "Michael S. Barr sworn in as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System". Federal Reserve. Retrieved July 19, 2022.