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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.. After earning a degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979, he moved to investment banking in 1984, and worked for several financial institutions ...
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- Chair of The Federal Reserve
Georgetown University. Male Lawyers. Childhood & Early Life. Jerome Hayden “Jay” Powell was born on February 4, 1953, in Washington, D.C., U.S., to private lawyer Jerome Powell and Patricia Hayden. His maternal grandfather was the dean of the 'Columbus School of Law' at the 'Catholic University of America' and a lecturer at the 'Georgetown ...
- 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.
Oct 27, 2020 · Powell was born into an affluent Catholic family in Washington, D.C. His mother was a statistician and his father was a labor lawyer; they had six children, of which Jay was the second oldest.
- Josh Barro
- Contributor
Nov 22, 2022 · Jerome Powell has served on the Federal Reserve Board (FRB) since May 25, 2012. He has been Fed chair since Feb. 5, 2018, and was approved for a second term in May 2022 under President Biden ...
- Mark Kolakowski
Mar 25, 2021 · Daniel Acker/Bloomberg via Getty Images. Steve Inskeep: Jerome Powell is on the line. He is the chair of the Federal Reserve Board charged with helping to manage the world's largest economy. One ...
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Nov 6, 2017 · Powell, 64 years old, has served on the central bank’s board of governors for the past five years. Below are a few factoids about his life: 1. Many people in government move to Washington, D.C ...
