Update Who Pays The Fed Chair?

The Federal Reserve Chair’s salary is determined by Congress, just like other government officials. The Fed Chair is appointed by the President and confirmed by the Senate, so their compensation is subject to legislative oversight.

To understand how the Fed Chair is paid, let’s take a closer look at the structure. The Federal Reserve, while independent, is a government entity. This means the Fed Chair is a public servant, and their pay is regulated. Congress sets the pay for all government officials, including the Fed Chair, through the Federal Reserve Act of 1913. While the Fed Chair is considered a highly influential position, they are subject to the same rules as other government officials regarding their compensation. This ensures transparency and accountability in the way the Fed Chair’s salary is determined.