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Federal Reserve Chairman Ben Bernanke and other members of the Fed's seven-member board in Washington are subject to disclosure requirements. These officials release annual financial statements. The Fed board members are nominated by the president and must be confirmed by the Senate. Bernanke earns $199,700, the same as a Cabinet secretary. The other members of the Fed's board earn $179,700. By contrast, the regional bank presidents are selected by the boards of the individual Fed banks, though they must be approved by the Fed board in Washington. The regional bank chiefs aren't subject to the federal salary caps that apply to Bernanke and the other Fed board members. The regional banks' boards set their salaries. All 12 bank presidents are paid more than Bernanke. The head of the New York Fed is the highest-paid official, earning more than $410,000. According to the Fed's annual report, the lowest salary among the 12 regional bank presidents was $281,000 paid to Bullard.
[Associated
Press;
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