Jerome Powell
Chairman, Federal Reserve
Jerome Hayden “Jay” Powell was born in February 1953 in Washington, D.C. He earned an undergraduate degree from Princeton University, then spent a year as a legislative assistant to a Pennsylvania Senator. He earned a Juris Doctor from Georgetown University Law School. He clerked at the Second Circuit U.S. Court of Appeals before entering private practice.
Powell spent six years working as an investment banker in New York City, before going to work for the U.S. Department of the Treasury. He became the Under Secretary of the Treasury for Domestic Finance after being nominated by President George H.W. Bush. He returned to private sector equity and venture capital activity. He spent two years as a visiting scholar at the Bipartisan Policy Center, a think tank in Washington, D.C.
President Barack Obama nominated Powell to the Federal Reserve Board of Governors, assuming office in May 2012. He has received nominations for additional terms since then. President Donald Trump nominated Powell to serve as the chair of the Federal Reserve. After confirmation by the Senate, he assumed office in February 2018.
Powell is married to Elissa Leonard and they have three children.
In the News…
Federal Reserve Chairman Jerome Powell said last week that it is up to Congress and the White House, and not the nation’s central bank, to develop policies to take on the climate.
Chairman Powell said, “Without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals. We are not, and will not be, a ‘climate policymaker.’“
He added, “It is essential that we stick to our statutory goals and authorities, and that we resist the temptation to broaden our scope to address other important social issues of the day.”
Contact this Leader…
Did you pray for Chairman Powell? You can let him know at:
The Honorable Jerome Powell
Chairman, Federal Reserve
20th St. and Constitution Ave.
Washington, DC 20551
