FED officials refer to the individuals who hold positions of authority within the Federal Reserve System, the central banking system of the United States. The Federal Reserve System is headed by a seven-member Board of Governors appointed by the President of the United States and confirmed by the Senate. Additionally, there are twelve regional Federal Reserve Banks, each headed by a president who is appointed by the bank’s board of directors, subject to the approval of the Board of Governors. FED officials are responsible for making monetary policy decisions, supervising and regulating banks and other financial institutions, and maintaining the stability of the financial system.