Dec 1, 2022 · Jerome Powell is the 16th and current chairman of the Federal Reserve, with a net worth of $50 million. He did not earn his fortune from his role as the Fed chair, but from his previous career as an investment banker and a partner at Carlyle Group. Learn more about his background, education, family, and career.
- Anuradha Garg
- Fed Chairman, Attorney, Investment Banker
Jerome Hayden " Jay " Powell (born February 4, 1953) is an American attorney and investment banker who has served since 2018 as the 16th chair of the Federal Reserve.
COMP +1.74% Jerome Powell, the chairman of the U.S. Federal Reserve, is responsible -- along with other members of the Federal Reserve who are in charge of our nation's central banks -- for...
- Dan Glaun
- Powell has served under four presidents, both Democrat and Republican. Powell’s history of public service dates back to the 1990s. He was appointed an assistant secretary and then under secretary of the U.S. Treasury by President George H.W.
- He is the first non-economist to become the Fed chair in 40 years. Powell was a broadly uncontroversial pick for Fed chair, with one Wall Street player — Ward McCarthy, of the investment bank Jefferies — telling CNBC he was the “boring” choice.
- As a private citizen, Powell worked to prevent a federal default. While at the Bipartisan Policy Center, Powell played a role in brokering a 2011 agreement to raise the federal debt ceiling, allowing the U.S. government to borrow more money and to avoid defaulting on the nation’s debt — a consequence some economists said would have wrought havoc on the world economy.
- Before COVID, Powell had expressed skepticism of experimental Fed policies. To try to avert economic crisis when COVID-19 struck, Powell has presided over a massive spike in quantitative easing: the unconventional monetary policy in which nations’ central banks buy up securities, aiming to inject money into the economy, as examined in The Power of the Fed.
6 days ago · Forbes Lists #11 Powerful People (2018) Personal Stats Age 71 Citizenship United States More on Forbes BrandStorytelling BRANDVOICE | Paid Program Feb 16, 2024 Dive Into ‘Responsibility Island’...
Jun 12, 2020 · Federal Reserve Chairman Jerome Powell is one of the wealthiest people to hold his position in decades, according to The Washington Post. He earned his money at private-equity firm The Carlyle Group and has a net worth between $17.7 million and $54.9 million, based on his financial disclosure documents from 2019. He is also the first Fed chair without formal economics training.
People also ask
How much money does Jerome Powell make?
Who is Jerome Powell wife?
What did Jerome Powell say about inflation?
Will Jerome Powell be reappointed?