Jerome Powell Fast Facts

Jerome Powell Fast Facts

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Here’s a have a look at the lifetime of Federal Reserve Chairman Jerome “Jay” Powell.

Birth date: February 4, 1953

Birth place: Washington, DC

Birth title: Jerome Hayden Powell

Father: Jerome Powell, lawyer

Mother: Patricia (Hayden) Powell, mathematician

Marriage: Elissa (Leonard) Powell (1985-present)

Children: Samuel; Lucy; Susie

Education: Princeton University, A.B. in Politics, 1975; Georgetown University, J.D., 1979

Was editor-in-chief of the Georgetown Law Journal.

Powell is the first chairman in 40 years not to hold a Ph.D. in economics.

Avid bicycle owner who has been recognized to experience his bike to work on the Fed.

1984-1990 – Works on the funding financial institution Dillon, Read & Co.

1990-1993 – Assistant Secretary after which Under Secretary of the Treasury for Finance, underneath US President George H. W. Bush.

1997-2005 – Partner at The Carlyle Group, a non-public fairness and asset administration agency.

2010-2012 – Visiting scholar on the Bipartisan Policy Center in Washington, DC.

May 25, 2012-present – Serves on the Board of Governors of the Federal Reserve. Reappointed and sworn in on June 16, 2014, for a 14-year time period ending January 31, 2028.

April 2017 – Powell is appointed to head oversight of the “too big to fail” banks.

November 2, 2017 – US President Donald Trump proclaims Powell as his nominee to switch Janet Yellen as the subsequent Fed chair.

December 5, 2017 – The Senate Banking Committee votes 22 to 1 in favor of advancing Powell’s nomination, with Democratic Senator Elizabeth Warren as the one member in opposition.

January 23, 2018 – Wins Senate confirmation by a vote of 84-13 with robust bipartisan help.

February 5, 2018 – Takes office as the 16th chairman of the Federal Reserve, for a four-year time period.

January 4, 2019 – During a panel dialogue on the annual American Economics Association convention, Powell says he would not resign if pressured to do so by Trump. Trump repeatedly criticized Powell for persevering with to tighten financial coverage, saying on Twitter that it was the “only problem” with the economic system. The President additionally requested advisers amid growing market volatility whether or not he can fireplace Powell.

November 12, 2020 – During a digital panel dialogue on the European Central Bank’s Forum on Central Banking, Powell says “we’re not going back to the same economy” we knew earlier than the coronavirus pandemic.

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