Your feedback ensures we stay focused on the facts that matter to you most—take our survey.
Jerome Powell
2012 - Present
13
2022 - Present
3
Jerome Powell is the current Federal Reserve chair.[1] He was confirmed by the Senate on May 12, 2022.[2]
President Joe Biden (D) nominated Powell to serve another term in the position on November 22, 2021.[3] Before his confirmation during the Biden Administration, he served as the acting chair. Powell was originally nominated for the position by President Donald Trump (R) in November 2017 and confirmed by the Senate on January 23, 2018.[4] He succeeded Janet Yellen, who was appointed by President Barack Obama (D). Powell is the 16th person to serve as Federal Reserve chair.[5]
The Federal Reserve chairperson oversees the Federal Open Market Committee, which sets national monetary policy, testifies before the United States Senate twice a year, and meets with the president and secretary of the Treasury regularly. The chair's participation in international organizations includes serving as an alternate member of the International Monetary Fund Board of Governors and a member of the U.S. delegation to the Group of Seven (G7).[6]
Biography
Powell was born in Washington, D.C., in 1953. He received a B.A. in politics from Princeton University and a J.D. from Georgetown University, where he served as editor-in-chief of the Georgetown Law Journal.[7]
Career
Below is an abbreviated outline of Powell's academic, professional, and political career:[7][8][9]
- 1975: B.A. in politics, Princeton University
- 1979: J.D., Georgetown University
- 1990-1992: Assistant secretary of the Treasury under President George H.W. Bush
- 1992-1993: Undersecretary of the Treasury
- 1997-2005: Partner at The Carlyle Group
- 2012-Present: Board member, Federal Reserve Board of Governors
- 2018-Present: Chair of the Federal Reserve
Confirmation vote
Senate vote
On January 23, 2018, the Senate voted 84 to 13 to confirm Powell as chair of the Federal Reserve.[10]
| Jerome Powell confirmation vote, January 23, 2018 | |||
|---|---|---|---|
| Party | Votes for  |
Votes against  |
Total votes |
 Democrats |
39 | 8 | 47 |
 Republicans |
44 | 4 | 48 |
 Independents |
1 | 1 | 2 |
| Total Votes | 84 | 13 | 97 |
Senate Committee on Banking, Housing, and Urban Affairs
The Senate Committee on Banking, Housing, and Urban Affairs held a confirmation hearing for Powell on November 28, 2017. The committee approved Powell's nomination for chair of the Federal Reserve on December 5, 2017, and again on January 17, 2018 (following the expiration of Powell's nomination at the end of 2017) by a vote of 22 to 1. Both times, Sen. Elizabeth Warren (D-Mass.) cast the one vote against approving Powell's nomination.[11]
Personal
Note: Please contact us if the personal information below requires an update.
Powell is married and has three children.[7]
Recent News
The link below is to the most recent stories in a Google news search for the terms Jerome Powell Federal Reserve chair. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
Footnotes
- ↑ Reuters, "Fed Chair Powell to become 'pro tempore' as he awaits Senate action," February 4, 2022
- ↑ Roll Call, "Senate confirms Powell to second term as Fed chairman," May 12, 2022
- ↑ White House, "President Biden Nominates Jerome Powell to Serve as Chair of the Federal Reserve, Dr. Lael Brainard to Serve as Vice Chair," November 21, 2022
- ↑ Reuters, "Senate confirms Jerome Powell as Federal Reserve chair," January 23, 2018
- ↑ Federal Reserve Bank of St. Louis, "Federal Reserve Chair," accessed February 7, 2018
- ↑ FederalReserve.gov, "The Federal Reserve System: Purposes and Functions," accessed April 2, 2014
- ↑ 7.0 7.1 7.2 Board of Governors of the Federal Reserve System, "Board Members," accessed February 7, 2018
- ↑ The Business Times, "Jerome Powell, Trump's multi-millionaire pick for Fed chief," November 3, 2017
- ↑ Board of Governors of the Federal Reserve System, "Nomination Statement," March 13, 2014
- ↑ United States Senate, "Roll Call Vote 115th Congress - 2nd Session, Vote Number 19," January 23, 2018
- ↑ Los Angeles Times, "Powell gets second Senate committee approval for Federal Reserve chair after nomination expired," January 17, 2018
| Political offices | ||
|---|---|---|
| Preceded by Janet Yellen |
U.S. Federal Reserve System 2018-Present |
Succeeded by - |
| |||||||||||||||||||
