who is the federal reserve system overseen by
Federal Reserve System The Federal Reserve System is composed of several layers. It is governed by the presidentially appointed Board of Governors or Federal Reserve Board (FRB). Twelve regional Federal Reserve Banks, located in cities throughout the nation, oversee the privately owned U.S. member banks.[14][15][16] Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region, which entitles them to elect some of their board members. The Federal Open Market Committee (FOMC) sets monetary policy; it consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the New York Fed and four others who rotate through one-year terms. There are also various advisory councils. Thus, the Federal Reserve System has both public and private components.[list 2] The structure is considered unique among central banks. It is also unusual in that the United States Department of the Treasury, an entity outside of the central bank, prints the currency used.[21]
Government of Australia The Government of the Commonwealth of Australia (also referred to as the Australian Government, the Commonwealth Government, the Federal Government, and formally Her Majesty's Government) is the government of the Commonwealth of Australia, a federal parliamentary constitutional monarchy.
Monetary policy of the United States In the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short-term interest rates.
President of the United States Donald Trump of New York is the 45th and current president. He assumed office on January 20, 2017.