Jerome Powell is an American economist and central banker who has served as the Chair of the Federal Reserve, the central bank of the United States, since February 5, 2018.
Born on February 4, 1953, in Washington, D.C., Powell earned a Bachelor of Arts in Politics from Princeton University and later obtained a Juris Doctor degree from Georgetown University Law Center.
Before becoming the Chair of the Federal Reserve, Powell held various positions in both the private and public sectors. He worked as an investment banker at Dillon, Read & Co., as a partner at the private equity firm The Carlyle Group, and as a visiting scholar at the Bipartisan Policy Center.
In the public sector, Powell served as an undersecretary at the Treasury Department during the administration of President George H.W. Bush.
Powell’s tenure at the Federal Reserve began in 2012 when he was appointed as a member of the Board of Governors.
In 2017, President Donald Trump nominated Powell to succeed Janet Yellen as the Chair of the Federal Reserve, and he was confirmed by the Senate in January 2018.
As Chair, Powell oversees the formulation and implementation of U.S. monetary policy, with the objectives of maintaining price stability, promoting maximum employment, and ensuring the stability of the financial system.