VICE CHAIRMAN FERGUSON SWORN IN TO NEW TERM ON BOARD.Vice Chairman Roger W. Ferguson, Jr., on July 26, 2001, took 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. to a new term on 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 in the presence of Dr. Ferguson's wife, Annette L. Nazareth, 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 Chairman's office. President Bush nominated 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. Ferguson on March 5, and the Senate confirmed him on July 19. He originally took office on November 5, 1997, as a member of the Board to fill an unexpired term. The new Board term expires January 31, 2014. Separately, Dr. Ferguson was sworn in on October 5, 1999, to a four-year term as Vice Chairman that ends October 5, 2003. |
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