Jerome H. Powell Biography
Jerome Powell is an American attorney and investment banker who has served as the 16th chair of the Federal Reserve since 2018. He became a member of the Federal Reserve Board of Governors after being nominated to the post by President Barack Obama in 2012, and he was subsequently elevated to chairman by President Donald Trump.
Jerome H. Powell Age
Jerome Hayden Powell was born on 4th February, 1953, Washington, D.C., U.S.
Jerome H. Powell Height
He stand at a height of 5 feet and 9 inches tall.
Jerome H. Powell Education
Powell graduated from Georgetown Preparatory School in 1972, a Jesuit university-preparatory school. He received a Bachelor of Arts in politics from Princeton University in 1975, where his senior thesis was titled “South Africa: Forces for Change”.In 1975–76, he spent a year as a legislative assistant to Republican Pennsylvania Senator Richard Schweiker.
Powell earned a Juris Doctor degree from Georgetown University Law Center in 1979, where he was editor-in-chief of the Georgetown Law Journal.
Jerome H. Powell Nationality
He is an American nationality.
Jerome H. Powell Ethnicity
He is of White ethnicity.
Jerome H. Powell Parents
He was born to Patricia Powell and Jerome Powell. His father was a lawyer in private practice in Washington.
Jerome H. Powell Siblings
He has five siblings namely; Susan Powell, Monica Powell Dolin, Tia Powell, Matthew Powell and Libby Powell Lathi
Jerome H. Powell Wife
Powell married Elissa Leonard in 1985 at the Episcopal Washington National Cathedral. She is a producer and writer for Innovation, a weekly Public Broadcasting System science series. She graduated magna cum laude from Harvard College. Her father, a writer, retired as a heart disease control administrator for the Public Health Service in Washington.
Jerome H. Powell Children
Jerome and his wife together have three children namely; Susie Powell, Sam Powell and Lucy Powell.
Jerome H. Powell Federal Reserve Board
Powell was nominated by President Donald Trump to serve as the chair of the Federal Reserve in 2nd November 2017, replacing Janet Yellen at the helm of the central bank. On December 5, the Senate Banking Committee approved Powell’s nomination to be chair in a 22–1 vote, with Senator Elizabeth Warren casting the lone dissenting vote. His nomination was confirmed by the Senate on January 23, 2018, by an 84–13 vote. Powell assumed office as chair on February 5, 2018.
Jerome was nominated to the Federal Reserve Board of Governors by President Barack Obama. The nomination included two people to help garner bipartisan support for both nominees since Stein’s nomination had previously been filibustered. Powell’s nomination was the first time that a president nominated a member of the opposition party for such a position since 1988.
Jerome took office on May 25, 2012, to fill the unexpired term of Frederic Mishkin, who resigned. In January 2014, he was nominated for another term, and, in June 2014, he was confirmed by the United States Senate in a 67–24 vote for a 14-year term ending January 31, 2028.
Powell moved to New York City and became a clerk to Judge Ellsworth Van Graafeiland of the United States Court of Appeals for the Second Circuit in 1979. From 1981 to 1983, Powell was a lawyer with Davis Polk & Wardwell, and from 1983 to 1984, he worked at the firm of Werbel & McMillen. From 1984 to 1990, Powell worked at Dillon, Read & Co., an investment bank, where he concentrated on financing, merchant banking, and mergers and acquisitions, rising to the position of vice president.
Jerome worked in the United States Department of the Treasury, at which time Nicholas F. Brady, the former chairman of Dillon, Read & Co., was the United States Secretary of the Treasury between 1990 and 1993. In 1992, Powell became the Under Secretary of the Treasury for Domestic Finance after being nominated by George H. W. Bush. During his stint at the Treasury.
Powell oversaw the investigation and sanctioning of Salomon Brothers after one of its traders submitted false bids for a United States Treasury security. Powell was also involved in the negotiations that made Warren Buffett the chairman of Salomon.
Jerome began working as a managing director for Bankers Trust in 1993. He left in 1995 after the bank suffered irreparable reputational damage when some complex derivative transactions caused large losses for major corporate clients. He then went back to work for Dillon, Read & Co. From 1997 to 2005, Powell was a partner at The Carlyle Group, where he founded and led the Industrial Group within the Carlyle U.S. Buyout Fund.
After leaving Carlyle, Powell founded Severn Capital Partners, a private investment firm focused on specialty finance and opportunistic investments in the industrial sector. In 2008, Powell became a managing partner of the Global Environment Fund, a private equity and venture capital firm that invests in sustainable energy.
Jerome has served on the boards of charitable and educational institutions including DC Prep, a public charter school, the Bendheim Center for Finance at Princeton University, and The Nature Conservancy. He was also a founder of the Center City Consortium, a group of 16 parochial schools in the poorest areas of Washington, D.C.
Jerome H. Powell Salary
He earns an estimated annual salary of USD 400,000.
Jerome H. Powell Net Worth
His net worth is estimated to be USD 55 million.
Jerome H. Powell Instagram
Chair Jerome Powell (@chairjeromepowell)