Jerome Powell Bio

A lawyer by training, Powell spearheaded the Fed’s response to the 2014 flash crash in Treasury debt and the overhaul of the flawed London Interbank Offered Rate benchmark. He’s also been the point person at the Board of Governors for handling such unglamorous-yet-essential duties as oversight of the financial payments system.

Powell, who goes by Jay, served at the Treasury Department under President George H. W. Bush, eventually ending up as undersecretary for domestic finance.

A multi-millionaire -- his 2016 financial disclosure form listed assets of as much as $55 million -- he spent much of his time outside the government working in the financial industry, first at investment bank Dillon Read & Co. and later at Carlyle Group, where he set up the private-equity firm’s industrial group.


 

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