What is the length of the term served by the governors of the Federal Reserve System?

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The length of the term served by the governors of the Federal Reserve System is fourteen years. This term structure was designed to ensure a level of independence from political pressures, allowing governors to make decisions based on economic conditions rather than political cycles. Appointments are staggered to ensure that not all terms expire simultaneously, and it allows for continuity within the Federal Reserve's governance. This extensive term contrasts with shorter political positions, reinforcing the importance of economic stability and expertise in the central banking system.