#FOMCMeeting The Board of Governors of the Federal Reserve System serves as the central governing body of the U.S. Federal Reserve, guiding national monetary policy to promote economic stability. Comprising seven members appointed by the President and confirmed by the Senate, the Board oversees Federal Reserve Banks, regulates key financial institutions, and sets reserve requirements. It plays a vital role in shaping interest rates and combating inflation. Working closely with the Federal Open Market Committee (FOMC), it helps steer the U.S. economy through data-driven decisions. The Board’s independent structure ensures it operates free from political influence while remaining accountable to the public.