Fed Chair is the title given to the chairperson of the Federal Reserve System, which is responsible for managing and regulating money supply in the United States. The Fed Chair serves as an important figurehead in setting economic policy across America and around world.
The current Fed Chair is Jerome Powell, who took office on February 5th 2018 after being nominated by President Donald Trump. He succeeded Janet Yellen who held office from 2014-2018 under Barack Obama’s administration. Prior to that Ben Bernanke served as Chairman since 2006 following Alan Greenspan (1987–2006).
The role of a Federal Reserve chairman includes many responsibilities such as supervising monetary policy decisions made by other members of its board; attending meetings with foreign central banks or international organizations; testifying before Congress regarding fiscal issues including unemployment levels, interest rates and growth forecasts; issuing press releases announcing changes in monetary policies or regulations; authorizing new bank charters and conducting examinations of banking institutions; acting as spokesperson for all matters related to financial stability within US borders and abroad ;and representing domestic interests at G20 Summits among others.
In addition to these duties, one primary responsibility falls on the shoulders’ of each newly appointed chairman: choosing a vice chairperson from amongst five existing board governors prior their nomination approval process through Senate confirmation hearings . This individual then acts directly under him/her while they are serving their term(s) together until his/her departure when he must choose another Vice-Chairman anew upon taking over power officially starting first day post inauguration ceremony When it comes time for retirement both will be replaced simultaneously regardless if there’s still more than two years left on either mandate respectively without further ado automatically therefore making this decision very crucial indeed because whoever holds those reins next could greatly influence global markets accordingly depending what course action taken during tenure prevails moving forward going into future drastically whether positive or otherwise so extreme caution should always remain paramount whenever addressing any matter pertaining specifically thereto particularly due gravity situation entails henceforth
