Is the Fed chair also protected from arbitrary removal? Does it matter which governor serves as the Fed chair? The Fed chair wields no more voting power than the other six governors as the head of the central bank’s board. That group, known as the Federal Open Market Committee, has 12 voting members: the seven Fed governors and five of the 12 presidents of the regional Fed banks. Mr. Conti-Brown said Congress had two options for trying to block Mr. Trump from removing Mr. Powell as the chairman.

Source: New York Times June 21, 2019 00:14 UTC