Jerome Powell, Chairman, Federal Reserve

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 recently said in an interview that the United States is on an “unsustainable” path.  

Chairman Powell said, “The U.S. federal government’s on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don’t think that’s at all controversial.” 

The officials of the Federal Reserve had indicated in December that interest rate cuts were a possibility in the near future. After declining to do so in January, Chairman Powell stated this week, “I think it’s not likely that this committee will reach that level of confidence in time for the March meeting, which is in seven weeks.”

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 


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