Fed Chief: Jerome H. Powell

Jerome H. Powell, an American attorney and investment banker, has been serving as the 16th chair of the Federal Reserve since February 2018. On May 23, 2022, he was reappointed for a second four-year term. Powell’s background includes experience in investment banking, law, and government. Prior to becoming Fed chair, he was on the Board of Governors of the Federal Reserve System and held roles in the U.S. Department of the Treasury under President George H.W. Bush. His reappointment demonstrates bipartisan support and his moderate approach to internal Fed discussions. Born in Washington, D.C., Powell earned a degree in politics from Princeton University and a law degree from Georgetown University. He has been involved with various charitable and educational organizations. Powell’s unique career trajectory, transitioning from corporate law to Wall Street to public service, has equipped him well for handling the current challenges. While some progressive Democrats have criticized him for his approach to climate change and bank regulations, President Biden nominated him for a second term, which was confirmed by the U.S. Senate on May 12, 2022.