Governors Bernanke and Kohn sworn in as board members. (Announcements).Donald L. Kohn and Ben S. Bernanke took on August 5, 2002, the oath of office An oath of office is an oath or affirmation a person takes before undertaking the duties of an office, usually a position in government or within a religious body, although such oaths are sometimes required of officers of other organizations. as members 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. . The oath was administered by Chairman Alan Greenspan Alan Greenspan Dr. Greenspan is Chairman of the Board of Governors of the Federal Reserve System. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body. in the Board Room. President Bush announced his intention to nominate nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. Dr. Kohn and Dr. Bernanke on May 8. The Senate confirmed them on July 31. Dr. Kohn was nominated to a vacant seat last held by Laurence H. Meyer, whose term expired January 31, 2002. Dr. Kohn's term expires January 31, 2016. Dr. Bernanke was nominated to the seat vacated by the resignation of Edward W. Kelley, Jr., on December 31, 2001. The term expires January 31, 2004. |
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