The Federal Reserve System is the central bank of the United States. It is considered to be a quasi-independent agency, in that it is a part of the government but acts independently and is not under the authority of any other government agency. The Federal Reserve is overseen by a seven member Board of Governors, which is in turn overseen by the Federal Reserve Chair. The current Chair is Janet Yellin, though she is scheduled to step down at the end of her term in February, 2018.
