.jpg "Jerome Powell"){kind=small}
Janet Yellen
Search results
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.
Quick Facts. Also Known As: Jerome Hayden Powell. Age: 71 Years, 71 Year Old Males. Family: Spouse/Ex-: Elissa Leonard (m. 1985) father: Jerome Powell. mother: Patricia Powell. children: Lucy Powell, Sam Powell, Susie Powell. Born Country: United States. Lawyers Government Officials. More Facts. Recommended Lists: American People. American Men.
- Doug Whiteman
- He's not an economist. Powell is the first Fed chairman in decades who doesn't have a Ph.D. in economics. Instead, the Washington, D.C., native earned a law degree from Georgetown University and was editor-in-chief of the Georgetown Law Journal.
- He's rich. His most recent financial disclosure form pegged Powell's net worth at up to $55 million. He built up a nice fortune during his time at the private equity and asset management firm The Carlyle Group, where he was a partner from 1997 through 2005.
- He's not the highest-paid person at the Fed. Powell may be the top dog at the Federal Reserve, but he's not the top earner. His salary is set by Congress, and he's currently paid $203,500 a year.
- He once took a job that paid $1 a year. A few years after leaving The Carlyle Group, Powell swapped the high-paying world of high finance for a position that came with a salary of just $1 a year.
- 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.
Mar 2, 2018 · Read CNN’s Fast Facts about Jerome “Jay” Powell to learn about the Federal Reserve chairman.
Oct 27, 2020 · Learn about Jerome Powell, the Federal Reserve chair who led the central bank's response to the pandemic and the financial crisis. He is a former lawyer and a Catholic who values transparency and accountability.
People also ask
Who is Jerome “Jay” Powell?
Did Jerome Powell really do a good job?
How many children does Jerome Powell have?
Will Jerome Powell be fed chair again in 2022?
Jerome H. Powell first took office as Chair of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was reappointed to the office and sworn in for a second four-year term on May 23, 2022.
