forex talking in english

Board of Governors
The Board of Governors, located in Washington, D.C., provides the leadership for the System.
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The Board of Governors, also known as the Federal Reserve Board, is the national component of the Federal Reserve System. The board consists of the seven

governors, appointed by the president and confirmed by the Senate. Governors serve 14-year, staggered terms to ensure stability and continuity over time. The chairman and vice-chairman are appointed to four-year terms and may be reappointed subject to term limitations.

The Board also exercises broad supervisory control over the financial services industry, administers certain consumer protection regulations, and oversees the nation's payments system. The Board oversees the activities of Reserve Banks, approving the appointments of their presidents and some members of their boards of directors.

The Board sets reserve requirements for depository institutions and approves changes in discount rates recommended by Reserve Banks.
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The Board's most important responsibility is participating in the Federal Open Market Committee (FOMC), which conducts our nation's monetary policy; the seven governors comprise the voting majority of the FOMC with the other five votes coming from Reserve Bank presidents.

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