1953.2.4.–
Federal Reserve chair who led unlimited asset purchases in the COVID-19 crisis and the steep rate rises from 2022
Born in Washington, D.C., Powell studied at Princeton University and the Georgetown University Law Center. After working as a lawyer he moved into investment banking and private equity, was a partner at the Carlyle Group from 1997 to 2005, and served as Under Secretary of the Treasury for Domestic Finance under George H. W. Bush. President Obama appointed him a governor of the Federal Reserve in 2012, President Trump elevated him to chair in 2018 and President Biden renominated him in 2021. He led the Fed's large-scale asset purchases in the COVID-19 crisis, called the inflation of 2021 "transitory" before retiring the word, and from March 2022 raised interest rates eleven times.
Also known as: Jay Powell · Jerome Hayden Powell
Activities and affiliations
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1992–
United States state institutionsUnder Secretary of the Treasury for Domestic Finance
Economy, finance and planning -
2012–
United States state institutionsGovernor of the Federal Reserve
Economy, finance and planning -
2018–2026
United States state institutionsChair of the Federal ReserveMain
Economy, finance and planning
Career Timeline
- 1997–2005Partner at the Carlyle Group
- 2012.05.25Took office as a governor of the Federal Reserve
- 2018–2026.05.22Chair of the Federal Reserve
- 2022.03.17Began raising interest rates