Why are members of the Board of Governors appointed to serve 14-year terms that are staggered with one expiring every 2 years?

Members of the Board of Governors are appointed to serve 14-year terms that are staggered every two years to promote stability and continuity within the Federal Reserve System. This structure ensures that no single administration can dominate the Board, allowing for a more balanced and independent approach to monetary policy. Staggered terms help maintain a mix of experience and fresh perspectives while preventing large-scale turnover that could disrupt governance.