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Definitions (2)

1. The governing body of the Federal Reserve System, which is responsible for U.S. monetary policy. Of the seven members, five are appointed by the President of the United States and confirmed by the Senate to serve a 14 year term, while the Chairman and Vice Chairman are appointed by the President and confirmed by the Senate to serve four year terms.

2. The members of a stock exchange that supervise the functioning of the exchange.

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