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Presidents of the Federal Reserve Bank of Chicago

The president of the Federal Reserve Bank of Chicago is the chief executive officer of the Seventh Federal Reserve District, headquartered in Chicago, Illinois. The president also serves on the Federal Open Market Committee (FOMC), which consists of 12 members: the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining 11 Reserve Bank presidents, who serve one-year terms on a rotating basis. Nonvoting Reserve Bank presidents attend FOMC meetings, participate in the discussions, and contribute to the FOMC's assessment of the economy and policy options.


Prior to the enactment of the Banking Act of 1935, the chief executive officer of each Federal Reserve Bank held the title of governor.

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The process for selecting a Federal Reserve Bank president is set forth in the Federal Reserve Act. The president is appointed by the individual Reserve Bank's board of directors and approved by the Board of Governors of the Federal Reserve System for a renewable term of five years. For additional details, see How is a Federal Reserve Bank president selected? published by the Board of Governors.

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Presidents of the Federal Reserve Bank of Chicago. https://fraser.stlouisfed.org/timeline/presidents-frb-chicago, accessed on October 04, 2024.