Vice Chair of the Federal Reserve
American government office
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.
| Vice Chair of the Board of Governors of the Federal Reserve System | |
|---|---|
 Seal of the Board of Governors | |
 Flag of the Federal Reserve System | |
| 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 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.[2]
The position of vice chair is currently held by Philip Jefferson who was sworn in on September 13, 2023.[3]
List of vice chairs
change| # | Portrait | Name (Birth–death) |
Term of office[a] | Tenure length | Appointed by[b] | |
|---|---|---|---|---|---|---|
| Start of term | End of term | |||||
| 1 | 
|
Frederic Delano (1863–1953) |
August 10, 1914 | August 9, 1916 | 1 year, 365 days | Woodrow Wilson |
| 2 | 
|
Paul Warburg (1868–1932) |
August 10, 1916 | August 9, 1918 | 1 year, 364 days | |
| 3 | 
|
Albert Strauss (1864–1929) |
October 26, 1918 | March 15, 1920 | 1 year, 141 days | |
| 4 | 
|
Edmund Platt (1865–1939) |
July 23, 1920 | September 14, 1930 | 10 years, 53 days | |
| 5 | 
|
John Thomas (1869–unknown) |
August 21, 1934 | February 10, 1936 | 1 year, 173 days | Franklin D. Roosevelt |
| 6 | 
|
Ronald Ransom (1882–1947) |
August 6, 1936 | December 2, 1947 | 11 years, 118 days | |
| 7 | 
|
Canby Balderston (1897–1979) |
March 11, 1955 | February 28, 1966 | 10 years, 354 days | Dwight D. Eisenhower John F. Kennedy |
| 8 | 
|
James Robertson (1907–1994) |
March 1, 1966 | April 30, 1973 | 7 years, 60 days | Lyndon B. Johnson Richard Nixon |
| 9 | 
|
George Mitchell (1904–1997) |
May 1, 1973 | February 13, 1976 | 2 years, 288 days | Richard Nixon |
| 10 | 
|
Stephen Gardner (1921–1978) |
February 13, 1976 | November 19, 1978 | 2 years, 279 days | Gerald Ford |
| 11 | 
|
Frederick Schultz (1929–2009) |
July 27, 1979 | February 11, 1982 | 2 years, 199 days | Jimmy Carter |
| 12 | 
|
Preston Martin (1923–2007) |
March 31, 1982 | April 30, 1986 | 4 years, 30 days | Ronald Reagan |
| 13 | 
|
Manley Johnson (born 1949) |
August 4, 1986 | August 3, 1990 | 3 years, 364 days | |
| 14 | 
|
David Mullins (1946–2018) |
July 24, 1991 | February 14, 1994 | 2 years, 205 days | George H. W. Bush |
| 15 | 
|
Alan Blinder (born 1945) |
June 27, 1994 | January 31, 1996 | 1 year, 218 days | Bill Clinton |
| 16 | 
|
Alice Rivlin (1931–2019) |
June 25, 1996 | July 16, 1999 | 3 years, 21 days | |
| 17 | 
|
Roger Ferguson (born 1951) |
October 5, 1999 | April 28, 2006 | 6 years, 205 days | Bill Clinton George W. Bush |
| 18 | 
|
Don Kohn (born 1942) |
June 23, 2006 | June 23, 2010 | 4 years, 0 days | George W. Bush |
| 19 | 
|
Janet Yellen (born 1946) |
October 4, 2010 | February 3, 2014 | 3 years, 122 days | Barack Obama |
| 20 | .jpg)
|
Stan Fischer (born 1943) |
June 16, 2014 | October 16, 2017 | 3 years, 122 days | |
| 21 | 
|
Richard Clarida (born 1957) |
September 17, 2018 | January 14, 2022 | 3 years, 119 days | Donald Trump |
| 22 | .jpg)
|
Lael Brainard (born 1962) |
May 23, 2022 | February 18, 2023 | 271 days | Joe Biden |
| 23 | .jpg)
|
Philip Jefferson (born 1961/1962) |
September 13, 2023 | Incumbent | 1 year, 76 days | |
Notes
change- ↑ The start date given here for each officeholder is the day they took the oath of office, and the end date is the day of their term expiration, resignation, retirement, or death.
- ↑ A fixed term with reappointment for the Vice Chair, then known as Vice Governor, was not added to the Federal Reserve Act until the Banking Act of 1935 (P.L. 74-305, 49 Stat. 684).
References
change- ↑ 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.
