Every years, a new member is appointed to the Federal Reserve Board of Governors.

The Federal Reserve Board of Governors is an integral part of the Federal Reserve System in the United States. Members are appointed to serve terms that last 14 years, and these terms are staggered. This means that every two years, a new member is typically appointed to ensure continuity and stability within the board. The staggered appointment schedule helps to integrate new perspectives while maintaining experienced members, who contribute their knowledge to the board’s decisions on monetary policy, regulation, and oversight of the banking system.

In summary, every two years, a new member joins the Federal Reserve Board of Governors, helping to support the ongoing functionality of the board in managing the nation's monetary policy effectively.