Federal Reserve Board of Governors

The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.[1][2]

Federal Reserve Board of Governors

Federal Reserve System headquarters
Headquarters	Eccles Building
Chair	Jerome Powell

Statutory description

By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country".[1][2] As stipulated in the Banking Act of 1935, the Chair and Vice Chair of the Board are two of seven members of the Board of Governors who are appointed by the President from among the sitting Governors.[1][2]

The terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the president, he or she functions mostly independently. Such independence is unanimously supported by major economists.[3] The Board is required to make an annual report of operations to the Speaker of the U.S. House of Representatives.[4] It also supervises and regulates the operations of the Federal Reserve Banks, and the U.S. banking system in general. The Board obtains its funding from charges that it assesses on the Federal Reserve Banks, and not from the federal budget.

Membership is by statute limited in term, and a member that has served for a full 14-year term is not eligible for reappointment.[5] There are numerous occasions where an individual was appointed to serve the remainder of another member's uncompleted term, and has been reappointed to serve a full 14-year term.[5] Since "upon the expiration of their terms of office, members of the Board shall continue to serve until their successors are appointed and have qualified",[5] it is possible for a member to serve for significantly longer than a full term of 14 years. The law provides for the removal of a member of the Board by the President "for cause".[5]

The Chair and Vice Chair of the Board of Governors are appointed by the President from among the sitting Governors. They both serve a four-year term and they can be renominated as many times as the President chooses, until their terms on the Board of Governors expire.[1]

All seven board members of the Federal Reserve Board of Governors and five Federal Reserve Bank presidents direct the open market operations that sets U.S. monetary policy through their membership in the Federal Open Market Committee (FOMC).[6]

Records of the Federal Reserve Board of Governors are found in the Record Group n. 82 at the National Archives and Records Administration.[7]

Current members

Board of governors in April 2019, when two of the seven seats were vacant

The current members of the Board of Governors are as follows:[8]

Portrait	Governor	Party	Term start	Term expires
	Jay Powell (Chair)	Republican	February 5, 2018 (as Chair)	February 5, 2022 (as Chair)
			May 25, 2012 (as Governor) June 16, 2014 (Reappointment)	January 31, 2028 (as Governor)
	Richard Clarida (Vice Chair)	Republican	September 17, 2018 (as Vice Chair)	September 17, 2022 (as Vice Chair)
			September 17, 2018 (as Governor)	January 31, 2022 (as Governor)
	Randy Quarles (Vice Chair for Supervision)	Republican	October 13, 2017 (as Vice Chair for Supervision)	October 13, 2021 (as Vice Chair for Supervision)
			October 13, 2017 (as Governor) July 17, 2018 (Reappointment)	January 31, 2032 (as Governor)
	Lael Brainard	Democratic	June 16, 2014	January 31, 2026
	Miki Bowman	Republican	November 26, 2018 February 1, 2020 (Reappointment)	January 31, 2034
	Chris Waller	Republican	December 18, 2020	January 31, 2030
	Vacant			January 31, 2024

Vacancies and pending nominations

Seat last held by	Vacancy reason	Vacancy date	Term expiration	Nominee	Nomination date	Regional Bank
Janet Yellen	Resignation	February 3, 2018	January 31, 2024	TBD

Failed nominations

The below were formally nominated to fill a vacant seat but failed to be confirmed by the Senate.

• Carol Parry nominated by Bill Clinton in 1999 to Susan Phillips's seat representing Chicago[9]
• Larry Klane nominated by George W. Bush in 2007 to Mark Olson's seat representing Richmond[10]
• Peter Diamond nominated by Barack Obama in 2010 to Rick Mishkin's seat representing Chicago[11][12][13]
• Allan Landon nominated by Barack Obama in 2015 to Sarah Bloom Raskin's seat representing San Francisco[14][15]
• Kathryn Dominguez nominated by Barack Obama in 2015 to Jeremy Stein's seat representing Chicago[16]
• Marvin Goodfriend nominated by Donald Trump in 2017 to Sarah Bloom Raskin's seat representing Philadelphia[17][18]
• Nellie Liang nominated by Donald Trump in 2018 to Janet Yellen's seat representing Chicago[19]
• Judy Shelton nominated by Donald Trump in 2020 and renominated in 2021 to Janet Yellen's seat representing San Francisco[20][21]

In addition, Steve Moore and Herman Cain were announced, but never formally nominated, to fill Bloom Raskin and Yellen's seats (without specifying which seat or district) by Donald Trump in 2019 before being withdrawn from consideration.[22][23]

Committees

There are eight committees.[24]

• Committee on Board Affairs
• Committee on Consumer and Community Affairs
• Committee on Economic and Financial Monitoring and Research
• Committee on Financial Stability
• Committee on Federal Reserve Bank Affairs
• Committee on Bank Supervision
• Subcommittee on Smaller Regional and Community Banking
• Committee on Payments, Clearing, and Settlement

List of governors

Board of Governors meeting January 1, 1922.

Current and living former Governors, 2013

Name	Regional Bank	Term start	Term end	Years served	Initial appointment	Notes
Frederic Delano	Chicago	August 10, 1914	July 21, 1918	3 years, 345 days	Wilson	Vice Chair (1914–1916)
Paul Warburg	New York	August 10, 1914	August 9, 1918	3 years, 364 days	Wilson	Vice Chair (1916–1918)
William Harding	Atlanta	August 10, 1914	August 9, 1922	7 years, 364 days	Wilson	Chair (1916–1922)
Adolph Miller	San Francisco	August 10, 1914	February 3, 1936	21 years, 177 days	Wilson
Charles Hamlin	Boston	August 10, 1914	February 3, 1936	21 years, 177 days	Wilson	Chair (1914–1916)
Albert Strauss	New York	October 26, 1918	March 15, 1920	1 year, 141 days	Wilson	Vice Chair (1918–1920)
Henry Moehlenpah	Chicago	November 10, 1919	August 9, 1920	0 years, 273 days	Wilson
Edmund Platt	New York	June 20, 1920	September 14, 1930	10 years, 86 days	Wilson	Vice Chair (1920–1930)
David Wills	Cleveland	September 20, 1920	March 4, 1921	0 years, 165 days	Wilson
John Mitchell	Minneapolis	May 12, 1921	May 12, 1923	2 years, 0 days	Harding
Milo Campbell	Chicago	March 14, 1923	March 22, 1923	0 years, 8 days	Harding	Died in office
Daniel Crissinger	Cleveland	May 1, 1923	September 15, 1927	4 years, 137 days	Harding	Chair (1923–1927)
Edward Cunningham	Chicago	May 14, 1923	November 28, 1930	7 years, 198 days	Harding	Died in office
George James	St. Louis	May 14, 1923	February 3, 1936	12 years, 265 days	Harding
Roy Young	Minneapolis	October 4, 1927	August 31, 1930	2 years, 331 days	Coolidge	Chair (1927–1930)
Eugene Meyer	New York	September 16, 1930	May 10, 1933	2 years, 236 days	Hoover	Chair (1930–1933)
Wayland Magee	Kansas City	May 18, 1931	January 24, 1933	1 year, 251 days	Hoover
Eugene Black	Atlanta	May 19, 1933	August 15, 1934	1 year, 88 days	F. Roosevelt	Chair (1933–1934)
John Thomas	Kansas City	June 14, 1933	February 10, 1936	2 years, 241 days	F. Roosevelt	Vice Chair (1934–1936)
Menc Szymczak	Chicago	June 14, 1933	May 31, 1961	27 years, 351 days	F. Roosevelt
Marriner Eccles	San Francisco	November 15, 1934	July 14, 1951	16 years, 241 days	F. Roosevelt	Chair (1934–1948)
Joseph Broderick	New York	February 3, 1936	September 30, 1937	1 year, 239 days	F. Roosevelt
John McKee	Cleveland	February 3, 1936	April 4, 1946	10 years, 60 days	F. Roosevelt
Ronald Ransom	Atlanta	February 3, 1936	December 2, 1947	11 years, 302 days	F. Roosevelt	Vice Chair (1936–1947); Died in office
Ralph Morrison	Dallas	February 10, 1936	July 9, 1936	0 years, 150 days	F. Roosevelt
Chester Davis	Richmond	June 25, 1936	April 15, 1941	4 years, 294 days	F. Roosevelt
Ernest Draper	New York	March 30, 1938	September 1, 1950	12 years, 155 days	F. Roosevelt
Rudolph Evans	Richmond	March 14, 1942	August 13, 1954	12 years, 152 days	F. Roosevelt
Jake Vardaman	St. Louis	April 4, 1946	November 30, 1958	12 years, 240 days	Truman
Larry Clayton	Boston	February 14, 1947	December 4, 1949	2 years, 293 days	Truman	Died in office
Thomas McCabe	Philadelphia	April 15, 1948	March 31, 1951	2 years, 350 days	Truman	Chair (1948–1951)
Edward Norton	Atlanta	September 1, 1950	January 31, 1952	1 year, 152 days	Truman
Oliver Powell	Minneapolis	September 1, 1950	June 30, 1952	1 year, 303 days	Truman
Bill Martin	New York	April 2, 1951	January 31, 1970	18 years, 304 days	Truman	Chair (1951–1970)
Abbot Mills	San Francisco	February 18, 1952	February 28, 1965	13 years, 10 days	Truman
James Robertson	Kansas City	February 18, 1952	April 30, 1973	21 years, 71 days	Truman	Vice Chair (1966–1973)
Canby Balderston	Philadelphia	August 12, 1954	February 28, 1966	11 years, 200 days	Eisenhower	Vice Chair (1955–1966)
Paul Miller	Minneapolis	August 13, 1954	October 21, 1954	0 years, 69 days	Eisenhower	Died in office
Charles Shepardson	Dallas	March 17, 1955	April 30, 1967	12 years, 44 days	Eisenhower
George King	Atlanta	March 25, 1959	September 18, 1963	4 years, 177 days	Eisenhower
George Mitchell	Chicago	August 31, 1961	February 13, 1976	14 years, 166 days	Kennedy	Vice Chair (1973–1976)
Dewey Daane	Richmond	November 29, 1963	March 8, 1974	10 years, 99 days	Kennedy
Sherman Maisel	San Francisco	April 30, 1965	May 31, 1972	7 years, 31 days	Johnson
Andrew Brimmer	Philadelphia	March 9, 1966	August 31, 1974	8 years, 175 days	Johnson
William Sherrill	Dallas	May 1, 1967	November 15, 1971	4 years, 198 days	Johnson
Arthur Burns	New York	January 31, 1970	March 31, 1978	8 years, 59 days	Nixon	Chair (1970–1978)
John Sheehan	St. Louis	January 4, 1972	June 1, 1975	3 years, 148 days	Nixon
Jeffrey Bucher	San Francisco	June 5, 1972	January 2, 1976	3 years, 211 days	Nixon
Robert Holland	Kansas City	June 11, 1973	May 15, 1976	2 years, 339 days	Nixon
Henry Wallich	Boston	March 8, 1974	December 15, 1986	12 years, 282 days	Nixon
Philip Coldwell	Dallas	October 29, 1974	February 29, 1980	5 years, 123 days	Ford
Philip Jackson	Atlanta	July 14, 1975	November 17, 1978	3 years, 126 days	Ford
Charles Partee	Richmond	January 5, 1976	February 7, 1986	10 years, 33 days	Ford
Stephen Gardner	Philadelphia	February 13, 1976	November 19, 1978	2 years, 279 days	Ford	Vice Chair (1976–1978); Died in office
David Lilly	Minneapolis	June 1, 1976	February 24, 1978	1 year, 268 days	Ford
William Miller	San Francisco	March 8, 1978	August 6, 1979	1 year, 151 days	Carter	Chair (1978–1979)
Nancy Teeters	Chicago	September 18, 1978	June 27, 1984	5 years, 283 days	Carter
Emmett Rice	New York	June 20, 1979	December 31, 1986	7 years, 194 days	Carter
Frederick Schultz	Atlanta	July 27, 1979	February 11, 1982	2 years, 199 days	Carter	Vice Chair (1979–1982)
Paul Volcker	Philadelphia	August 6, 1979	August 11, 1987	8 years, 5 days	Carter	Chair (1979–1987)
Lyle Gramley	Kansas City	May 28, 1980	September 1, 1985	5 years, 96 days	Carter
Preston Martin	San Francisco	March 31, 1982	April 30, 1986	4 years, 30 days	Reagan	Vice Chair (1982–1986)
Martha Seger	Chicago	July 2, 1984	March 11, 1991	6 years, 252 days	Reagan
Manley Johnson	Richmond	February 7, 1986	August 3, 1990	4 years, 177 days	Reagan	Vice Chair (1986–1990)
Wayne Angell	Kansas City	February 7, 1986	February 9, 1994	8 years, 2 days	Reagan
Robert Heller	San Francisco	August 19, 1986	July 31, 1989	2 years, 346 days	Reagan
Mike Kelley	Dallas	May 26, 1987	December 31, 2001	14 years, 219 days	Reagan
Alan Greenspan	New York	August 11, 1987	January 31, 2006	18 years, 173 days	Reagan	Chair (1987–2006)
John LaWare	Boston	August 15, 1988	April 30, 1995	6 years, 258 days	Reagan
David Mullins	St. Louis	May 21, 1990	February 14, 1994	3 years, 269 days	G. H. W. Bush	Vice Chair (1991–1994)
Larry Lindsey	Richmond	November 26, 1991	February 5, 1997	5 years, 71 days	G. H. W. Bush
Susan Phillips	Chicago	December 2, 1991	June 30, 1998	6 years, 210 days	G. H. W. Bush
Alan Blinder	Philadelphia	June 27, 1994	January 31, 1996	1 year, 218 days	Clinton	Vice Chair (1994–1996)
Janet Yellen	San Francisco	August 12, 1994	February 17, 1997	2 years, 189 days	Clinton
Laurence Meyer	St. Louis	June 24, 1996	January 31, 2002	5 years, 221 days	Clinton
Alice Rivlin	Philadelphia	June 25, 1996	July 16, 1999	3 years, 21 days	Clinton	Vice Chair (1996–1999)
Edward Gramlich	Richmond	November 5, 1997	August 31, 2005	7 years, 299 days	Clinton
Roger Ferguson	Boston	November 5, 1997	April 28, 2006	8 years, 174 days	Clinton	Vice Chair (1999–2006)
Mark W. Olson	Minneapolis	December 7, 2001	June 30, 2006	4 years, 205 days	G. W. Bush
Susan Bies	Chicago	December 7, 2001	March 30, 2007	5 years, 113 days	G. W. Bush
Ben Bernanke	Atlanta	August 5, 2002	June 21, 2005	2 years, 320 days	G. W. Bush
Don Kohn	Kansas City	August 5, 2002	September 1, 2010	8 years, 27 days	G. W. Bush	Vice Chair (2006–2010)
Ben Bernanke	Atlanta	February 1, 2006	January 31, 2014	7 years, 364 days	G. W. Bush	Chair (2006–2014)
Kevin Warsh	New York	February 24, 2006	April 2, 2011	5 years, 37 days	G. W. Bush
Randall Kroszner	Richmond	March 1, 2006	January 21, 2009	2 years, 326 days	G. W. Bush
Rick Mishkin	Boston	September 5, 2006	August 31, 2008	1 year, 361 days	G. W. Bush
Betsy Duke	Philadelphia	August 5, 2008	August 31, 2013	5 years, 26 days	G. W. Bush
Dan Tarullo	Boston	January 28, 2009	April 5, 2017	8 years, 67 days	Obama
Janet Yellen	San Francisco	October 4, 2010	February 3, 2018	7 years, 122 days	Obama	Vice Chair (2010–2014); Chair (2014–2018)
Sarah Bloom Raskin	Richmond	October 4, 2010	March 13, 2014	3 years, 160 days	Obama
Jay Powell	Philadelphia	May 25, 2012	January 31, 2028	8 years, 256 days	Obama	Chair (2018–present)
Jeremy Stein	Chicago	May 30, 2012	May 28, 2014	1 year, 363 days	Obama
Stan Fischer	New York	May 28, 2014	October 13, 2017	3 years, 138 days	Obama	Vice Chair (2014–2017)
Lael Brainard	Richmond	June 16, 2014	January 31, 2026	6 years, 234 days	Obama
Randy Quarles	Kansas City	October 13, 2017	January 31, 2032	3 years, 115 days	Trump	Vice Chair for Supervision (2017–present)
Richard Clarida	Boston	September 17, 2018	January 31, 2022	2 years, 141 days	Trump	Vice Chair (2018–present)
Miki Bowman	St. Louis	November 26, 2018	January 31, 2034	2 years, 71 days	Trump
Chris Waller	Minneapolis	December 18, 2020	January 31, 2030	49 days	Trump

Succession of seats

The Federal Reserve Board has seven seats subject to Senate confirmation, separate from a member's term as chair or vice chair.[25][26][27][28]

Seat 1 Established August 10, 1914 Hamlin 1914–1936 Board reorganized February 3, 1936 Morrison 1936 Clayton 1947–1949 O. Powell 1950–1952 Balderston 1954–1966 Brimmer 1966–1974 Coldwell 1974–1980 Gramley 1980–1985 Angell 1986–1994 Yellen 1994–1997 Gramlich 1997–2005 Kroszner 2006–2009 Tarullo 2009–2017 Clarida 2018–present

Seat 2 Established August 10, 1914 Warburg 1914–1918 Strauss 1918–1920 Platt 1920–1930 E. Meyer 1930–1933 Black 1933–1934 Eccles 1934–1936 Board reorganized February 3, 1936 Davis 1936–1941 Evans 1942–1954 P. Miller 1954 Shepardson 1955–1967 Sherrill 1967–1971 Sheehan 1972–1975 Jackson 1975–1978 Schultz 1979–1982 P. Martin 1982–1986 Heller 1986–1989 Mullins 1990–1994 Blinder 1994–1996 Rivlin 1996–1999 Olson 2001–2006 Yellen 2010–2018

Seat 3 Established August 10, 1914 Delano 1914–1918 Moehlenpah 1919–1920 Wills 1920–1921 J. Mitchell 1921–1923 James 1923–1936 Board reorganized February 3, 1936 Ransom 1936–1947 McCabe 1948–1951 B. Martin 1951–1970 Burns 1970–1978 Teeters 1978–1984 Seger 1984–1991 Phillips 1991–1998 Bies 2001–2007 Duke 2008–2013 Brainard 2014–present

Seat 4 Established August 10, 1914 Harding 1914–1922 Crissinger 1923–1927 Young 1927–1930 Szymczak 1933–1936 Board reorganized February 3, 1936 Eccles 1936–1951 Mills 1952–1965 Maisel 1965–1972 Bucher 1972–1976 Partee 1976–1986 Johnson 1986–1990 Lindsey 1991–1997 Ferguson 1997–2006 Mishkin 2006–2008 J. Powell 2012–present

Seat 5 Established August 10, 1914 A. Miller 1914–1936 Board reorganized February 3, 1936 McKee 1936–1946 Vardaman 1946–1958 King 1959–1963 Daane 1963–1974 Wallich 1974–1986 LaWare 1988–1995 L. Meyer 1996–2002 Kohn 2002–2010 Bloom Raskin 2010–2014 Waller 2020–present

Seat 6 Established June 3, 1922 Campbell 1923 Cunningham 1923–1930 Magee 1931–1933 Thomas 1933–1936 Board reorganized February 3, 1936 Szymczak 1936–1961 G. Mitchell 1961–1976 Gardner 1976–1978 Rice 1979–1986 Kelley 1987–2001 Bernanke 2002–2005 Warsh 2006–2011 Stein 2012–2014 Quarles 2017–present

Seat 7 Established August 23, 1935 Broderick 1936–1937 Draper 1938–1950 Norton 1950–1952 Robertson 1952–1973 Holland 1973–1976 Lilly 1976–1978 W. Miller 1978–1979 Volcker 1979–1987 Greenspan 1987–2006 Bernanke 2006–2014 Fischer 2014–2017 Bowman 2018–present

Chairs Established August 10, 1914 Hamlin 1914–1916 Harding 1916–1922 Crissinger 1923–1927 Young 1927–1930 E. Meyer 1930–1933 Black 1933–1934 Eccles 1934–1948 McCabe 1948–1951 B. Martin 1951–1970 Burns 1970–1978 W. Miller 1978–1979 Volcker 1979–1987 Greenspan 1987–2006 Bernanke 2006–2014 Yellen 2014–2018 J. Powell 2018–present

Vice Chairs Established August 10, 1914 Delano 1914–1916 Warburg 1916–1918 Strauss 1918–1920 Platt 1920–1930 Thomas 1934–1936 Ransom 1936–1947 Balderston 1955–1966 Robertson 1966–1973 G. Mitchell 1973–1976 Gardner 1976–1978 Schultz 1979–1982 P. Martin 1982–1986 Johnson 1986–1990 Mullins 1991–1994 Blinder 1994–1996 Rivlin 1996–1999 Ferguson 1999–2006 Kohn 2006–2010 Yellen 2010–2014 Fischer 2014–2017 Clarida 2018–present

Vice Chairs for Supervision Established July 21, 2010 Quarles 2017–present

References

1. See 12 U.S.C. § 241
2. Federal Reserve (January 16, 2009). "Board of Governors FAQ". Federal Reserve. Archived from the original on January 17, 2009. Retrieved 2009-01-16.
3. http://www.igmchicago.org/surveys/fed-appointments
4. 12 U.S.C. § 247.
5. See 12 U.S.C. § 242.
6. "The Three Key System Entities" (PDF). Board of Governors of the Federal Reserve System.
7. Richardson, Gary (February 2006). "Records of the Federal Reserve Board of Governors in Record Group 82 at the National Archives of the United States". Financial History Review. 13: 123–134. doi:10.1017/S0968565006000084. Archived from the original on April 21, 2018. Retrieved April 21, 2018.
8. "FRB: Board Members". Federalreserve.gov. 2013-09-03. Retrieved 2014-01-11.
9. PN480 — Carol J. Parry — Board of Governors of the Federal Reserve System 106th Congress (1999–2000)
10. PN569 — Larry Allan Klane — Federal Reserve System, 110th Congress (2007–2008)
11. PN52 — Peter A. Diamond — Federal Reserve System 112th Congress (2011–2012)
12. PN2121 — Peter A. Diamond — Federal Reserve System 111th Congress (2009–2010)
13. PN1726 — Peter A. Diamond — Federal Reserve System 111th Congress (2009–2010)
14. PN3 — Allan R. Landon — Federal Reserve System 114th Congress (2015–2016)
15. PN2 — Allan R. Landon — Federal Reserve System 114th Congress (2015–2016)
16. PN674 — Kathryn M. Dominguez — Federal Reserve System 114th Congress (2015–2016)
17. PN1279 — Marvin Goodfriend — Federal Reserve System 115th Congress (2017–2018)
18. PN1348 — Marvin Goodfriend — Federal Reserve System 115th Congress (2017–2018)
19. PN2543 — Jean Nellie Liang — Federal Reserve System 115th Congress (2017–2018)
20. PN1422 — Judy Shelton — Federal Reserve System 116th Congress (2019–2020)
21. PN3 — Judy Shelton — Federal Reserve System 117th Congress (2021–2022)
22. Timiraos, Nick (March 22, 2019). "Trump Offers Fed Board Position to Economic Commentator Stephen Moore". The Wall Street Journal.
23. Borak, Donna; Vazquez, Maegan (April 4, 2019). "Trump Says He's Recommending Herman Cain to Fed". CNN.
24. "About the Fed" on the Federal Reserve Board of Governors website
25. Smale, Pauline H. (February 9, 1985). "Board of Governors of the Federal Reserve System: History, Membership, and Current Issues" (PDF). Congressional Research Service. Retrieved April 28, 2020.
26. "Board of Governors Members, 1914-Present". Federal Reserve Board of Governors. Retrieved April 28, 2020.
27. "List of Suggested Appointments to the Federal Reserve Board" (PDF). FRASER. Retrieved May 3, 2020.
28. Engelberg, Joseph; Henriksson, Matthew; Manela, Asaf; Williams, Jared (October 29, 2019). "The Partisanship of Financial Regulators". Social Science Research Network. SSRN 3481564.

External links

• Federal Reserve List of Governors
• Nomination hearings for Chairmen and Members of the Board of Governors of the Federal Reserve System
• Public Statements of Federal Reserve Board Members and Chairmen
• Minutes of Meetings of the Board of Governors of the Federal Reserve System
• Works by the Board of Governors

 This article incorporates public domain material from websites or documents of the National Archives and Records Administration.