The FOMC is made up of 12 members: Seven of them are the Federal Reserve governors who have been appointed by the president and confirmed by the Senate. Governors always have a vote at the FOMC. The other five members are presidents of the regional Federal Reserve Banks who are appointed by their local boards of directors.
Benoît Cœuré: The political dimension of European economic integration Speech by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the 19th Université d’automne de la Ligue des droits de l’Homme, Paris, 23 November 2013. *  *  *  I would like to thank Jean-Francois Jamet for his contribution.