# Fed Chairman Terms **URL:** \ **Category:** Factual Questions\ **Created:** [April 22, 2003, 7:36pm UTC](https://boards.straightdope.com/t/fed-chairman-terms/170395 "2003-04-22T19:36:12Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![TexasSpur](https://avatars.discourse-cdn.com/v4/letter/t/a6a055/32.png) [@TexasSpur](https://boards.straightdope.com/u/TexasSpur)\ **Post date:** [April 22, 2003, 7:36pm UTC](https://boards.straightdope.com/t/fed-chairman-terms/170395/1 "2003-04-22T19:36:12Z")
I was under the impression that the members of the Federal Reserve Board were appointed for 14 year terms and that only 1 term could be served. How is it that Greenspan has served since 1987? Was he a replacement for another member and then his 14 year term started at some other point in time? How does this appointment process work? ---
**Author:** ![klas](https://avatars.discourse-cdn.com/v4/letter/k/a587f6/32.png) [@klas](https://boards.straightdope.com/u/klas)\ **Post date:** [April 22, 2003, 8:47pm UTC](https://boards.straightdope.com/t/fed-chairman-terms/170395/2 "2003-04-22T20:47:23Z")
I think the terms are for 4 yrs rather than 14 yrs. This link provided a story saying that Bush wants him for a 5th term, and he has been serving since Aug of '87 (which would lead me to believe he started in the middle of someone elses - namely Paul Volker). His current term runs through 6/20/04. [http://www.foxnews.com/story/0,2933,84817,00.html](http://www.foxnews.com/story/0,2933,84817,00.html) ---
**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\ **Post date:** [April 22, 2003, 8:54pm UTC](https://boards.straightdope.com/t/fed-chairman-terms/170395/3 "2003-04-22T20:54:44Z")
According to the [Fed’s website](http://www.federalreserve.gov/bios/greenspan.htm), > [@](#): > > Alan Greenspan took office June 20, 2000, as Chairman of the Board of Governors of the Federal Reserve System for a fourth four-year term ending June 20, 2004… He originally took office as Chairman and to fill an unexpired term as a member of the Board on August 11, 1987. Dr. Greenspan was reappointed to the Board to a full 14-year term, which began February 1, 1992. He has been designated Chairman by Presidents Reagan, Bush, and Clinton. So Board members (including Greenspan) serve on the board for 14 year terms, but the _chairman_ is chosen for only four years.