Question

1. Who is the current chair of the Federal Reserve Board of Governors? How long is the term for the chair? 2. When was the Federal Reserve System created? Which President signed the legislation which

Answer 1

1. The current chair of the Federal Reserve Board of Governors is

Jerome H. Powell. The term for the chair is 4 years.

2. On December 23, 1913 the Federal Reserve System was created. President Woodrow Wilson signed the Federal Reserve Act in December 1913.

Step-by-step explanation:

The current chair of the Federal Reserve Board of Governors is

Jerome H. Powell. The term for the chair is 4 years. By law, the president nominates a Fed chair and the two vice chairs for four-year terms. After confirmation from the Senate for those positions in a vote distinct from their confirmation as members of the Fed Board of Governors. Jerome Powell was confirmed for a second four-year term as chair on May 12, 2022.

In December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act in December 1913, culminating three years of discussion and debate over the development of a central bank.