Chairman Alan Greenspan names Governor Donald L. Kohn as designee.Federal Reserve Board Federal Reserve Board (FRB) The seven-member governing body of the Federal Reserve System Federal Reserve System The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States.Notes: You can divide the Federal Reserve's duties into four general areas:1., which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions. Chairman Alan Greenspan Alan Greenspan Dr. Greenspan is Chairman of the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply.. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body.Notes: His public comments are so powerful that they can send financial markets sharply in either direction. named on August 17, 2005, Governor Donald L. Kohn to replace Governor Edward M. Gramlich as the Chairman's designee on four federal loan guarantee boards, effective September 1, 2005. Governor Gramlich's resignation from the Board of Governors of the Federal Reserve System, became effective August 31, 2005. Governor Kohn will serve as chairman of the Air Transportation Stabilization Board, the Emergency Steel Loan Guarantee Board, and the Emergency Oil and Gas Loan Guarantee Board, and as a member of the LOCAL Television Loan Guarantee Board. |
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