President Barack Obama Name Jerome Powell | Education Princeton University | |
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The honorable jerome h powell governor federal reserve board
Jerome H. "Jay" Powell (born February 1953) is a governor of the Federal Reserve. He took office on May 25, 2012, to fill an unexpired term. He was reappointed and sworn in on June 16, 2014, for a term ending January 31, 2028.
Contents
- The honorable jerome h powell governor federal reserve board
- Personal background
- Professional background
- Tenure
- References
Personal background
Jerome H. Powell was born in February 1953 in Washington, D.C. He graduated from the Georgetown Preparatory School in 1971, received an A.B. in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. While at Georgetown, he was editor-in-chief of the Georgetown Law Journal. He is married with three children.
Professional background
Prior to his appointment to the Board of Governors, Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, he was a partner at the Carlyle Group.
Powell served as an assistant secretary and as undersecretary of the Treasury under President George H. W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas. Nicholas F. Brady, a former Dillon, Read & Co. colleague, was the then sitting Secretary of the Treasury. Prior to joining the Bush administration, he worked as a lawyer and investment banker in New York City. In 1985, Powell was an Associate at Dillon Read and at the time of his Senate confirmation in September 1990 he was a Senior Vice President of the firm.
In addition to service on corporate boards, Powell has served on the boards of charitable and educational institutions, including the Bendheim Center for Finance at Princeton University and The Nature Conservancy of Washington, D.C., and Maryland.
Tenure
Powell was nominated to the Federal Reserve Board of Governors by President Barack Obama in combination with Jeremy C. Stein in order to help garner bipartisan support for both nominees. Stein's nomination had previously been filibustered. Powell was nominated for another term in January 2014, along with Stanley Fischer and Lael Brainard. Powell's work has often focused on financial regulation.