Not all power is equal across these regional boards. The board at the New York Fed, for example, gets to appoint a president who is a permanent member of the Federal Open Market Committee. “That has an influence over policy. The president of the New York Fed has got a special position in the Federal Reserve System, so that choice matters,” said Gary Richardson, an economics professor at the University of California, Irvine.

For the full story, please visit https://www.marketplace.org/2019/07/19/a-guide-to-the-federal-reserves-board-of-directors/.