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How is the FOMC's chairperson chosen?

Updated: 8/19/2019
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By tradition, the Committee elects the Board of Governors chairperson as its chairperson and the New York Reserve Bank president as its vice chairperson.

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Q: How is the FOMC's chairperson chosen?
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It is true that the committee chairperson is chosen based on seniority. This is the individual that presides over the meetings that take place within the Senate.


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A commtte consists of 7 women and 4 men. if a member of the committee is chosen at random to act as chairperson?

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