The Chair of the Federal Reserve (the “Fed chair”) is appointed by the President of the United States and must be confirmed by the U.S. Senate.

How the appointment works

  • The president selects (nominates) one person from among the sitting members of the Federal Reserve Board of Governors to serve as chair.
  • The Senate, usually through the Senate Banking Committee first and then the full Senate, holds hearings and votes on whether to confirm that nominee.
  • If confirmed, the person serves a four‑year term as Fed chair, though their underlying term as a governor can be much longer (up to 14 years).

Why this matters now

Because the Fed chair steers U.S. monetary policy—interest rates, financial stability, and communication with markets—the choice by the president and the Senate’s willingness to confirm that person can significantly influence inflation, employment, and financial conditions for years.

In one line: The Fed chair is picked by the president, but the choice only becomes official if the Senate agrees.

TL;DR: The president appoints the Fed chair, and the Senate must approve the appointment.

Information gathered from public forums or data available on the internet and portrayed here.