cnn
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Here's a look at the life of Federal Reserve Chairman Jerome “Jay” Powell.
Birthdate: February 4, 1953
Place of birth: Washington D.C.
Birth name: Jerome Hayden Powell
Father: Jerome Powell, attorney
Mother: Patricia (Hayden) Powell, mathematician
Marriage: Elissa (Leonard) Powell (1985-present)
Children: Samuel, Lucy and Susie
Education: Princeton University, BA, Politics, 1975; Georgetown University, Doctor of Laws, 1979
He was editor-in-chief of the Georgetown Law Journal.
Powell is the first president in 40 years who does not have a doctorate. in economics.
Avid cyclist known for cycling to work at the Federal Reserve.
1984-1990 – He works at the investment bank Dillon, Read & Co.
1990-1993 – Undersecretary and then Undersecretary of the Treasury for Finance, during the presidency of the United States, George HW Bush.
1997-2005 – Partner at The Carlyle Group, a private equity and asset management firm.
2010-2012 – Visiting scholar at the Bipartisan Policy Center in Washington, DC.
May 25, 2012-present – He is a member of the Board of Governors of the Federal Reserve. He re-elected and sworn in on June 16, 2014, for a 14-year term ending January 31, 2028.
April 2017 – Powell is appointed to lead oversight of “too big to fail” banks.
November 2, 2017 – US President Donald Trump announces Powell as his nominee to replace Janet Yellen as the next chair of the Federal Reserve.
December 5, 2017 – The Senate Banking Committee votes 22-1 to advance Powell's nomination, with Democratic Sen. Elizabeth Warren the only member in opposition.
January 23, 2018 – Wins Senate confirmation by 84 votes to 13 with strong bipartisan support.
February 5, 2018 – He takes office as the 16th chairman of the Federal Reserve, for a four-year term.
January 4, 2019 – During a panel discussion at the American Economic Association's annual conference, Powell says he wouldn't resign if Trump pressured him to do so. Trump repeatedly criticized Powell for continuing to tighten monetary policy, saying on Twitter that it was the “only problem” with the economy. The president also asked his advisers, amid growing market volatility, if he could fire Powell.
November 12, 2020 – During a virtual roundtable at the European Central Bank's Central Banking Forum, Powell says “we will not return to the same economy” as we knew before the coronavirus pandemic.
November 22, 2021 – Biden formally announces his intention to nominate Powell as chair of the Federal Reserve for a second term and to nominate Lael Brainard as vice chair of the Federal Reserve.
May 12, 2022 – The US Senate confirms Powell for a second term as chairman of the Federal Reserve. The final vote is 80-19.
January 18, 2023 – He announces that he has tested positive for Covid-19 and has mild symptoms.
