Chairman of the Federal Reserve

List of Fed chairs

Following the enactment of the Federal Reserve Act on December 23, 1913, the United States secretary of the treasury, William Gibbs McAdoo became responsible for overseeing of the establishment of the Federal Reserve system. He became the ex officio chairman of the Federal Reserve Board and a member of the Reserve Bank Organization Committee (RBOC). Until the Banking Act of 1935 was signed into law on Aug. 23, 1935 and became effective on Feb. 1, 1936, the incumbent treasury secretary had also been the ex officio Fed chair, whilst the de facto active head of the central bank was known as the governor of the Federal Reserve Board. The 1935 Act ended ex-officio membership of the treasury secretary, re-designating the governor as the chairman of the Board of Governors.