The **Board of Governors** primarily refers to two major governing bodies in international finance and U.S. monetary policy: the World Bank's Boards of Governors and the U.S. Federal Reserve Board of Governors. The **World Bank Boards of Governors** consist of one Governor and one Alternate Governor from each member country, typically held by a country’s finance minister or central bank governor. They serve five-year terms and collectively form the Bank’s highest decision-making authority. Their key responsibilities include admitting or suspending members, adjusting the Bank’s capital stock, approving income distribution, and making formal cooperation arrangements with other international organizations. Although the Board delegates most powers to Executive Directors, it retains critical oversight functions such as approving amendments to the Articles of Agreement and deciding on appeals. Governors from countries that are members of affiliated organizations like the International Finance Corporation (IFC) and International Development Association (IDA) also serve on those bodies’ Boards[1]. The **Federal Reserve Board of Governors** is the main governing body of the U.S. Federal Reserve System, headquartered in Washington, D.C. It consists of seven members appointed by the U.S. President and confirmed by the Senate for staggered 14-year terms to ensure independence from political cycles. The Board oversees the 12 regional Federal Reserve Banks and guides national monetary policy. It plays a central role in supervising and regulating banks, monitoring credit conditions, and setting interest rates through the Federal Open Market Committee (FOMC), which includes all Governors and selected Reserve Bank presidents. The Chair and Vice Chair serve four-year renewable terms. The Board operates independently from Congress and the Executive Branch to shield monetary policy from short-term political influence[2][3][5][6][7]. Notable aspects include the Board’s role in stabilizing the U.S. economy, its comprehensive regulatory oversight, and its commitment to transparency through public communication of monetary policy decisions. The Federal Reserve Board’s structure and long terms promote steady governance, while the World Bank’s Boards of Governor
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SCOTUS blocks Trump's bid to remove Lisa Cook, preserving Federal Reserve independence amid ongoing political tensions.