How a Federal Reserve President is Selected

The responsibility for appointing a new president is held by the Class B and Class C members of the Reserve Bank’s board of directors in concurrence with the Federal Reserve Board of Governors.

Eligible directors form a committee and most often work with an executive search firm to conduct an extensive search to identify qualified candidates. The committee typically considers candidates from a wide range of industries and backgrounds, including candidates both within and outside the Federal Reserve System, who meet the position’s qualifications.

The Bank’s Class B and Class C directors then formally appoint a candidate, subject to the approval of the Board of Governors.

Read more about how a Federal Reserve president is selected on the Federal Reserve Board site

For more information on the requirements of the position and how to apply, please see the job description.