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Jerome Powell

Powell was born on February 4, 1953, in Washington, DC, one of six children of Patricia (née Hayden; 1926–2010) and Jerome Powell (1921–2007), an attorney in private practice. His maternal grandfather, James J. Hayden was dean of the Columbus School of Law at the Catholic University of America and later a lecturer at Georgetown Law School.

Jerome Hayden “Jay” Powell is an American lawyer and investment banker who has served as the 16th Chairman of the Federal Reserve since 2018. After earning a degree in politics from Princeton University in 1975 and a Juris Doctor degree from Georgetown University Law Center in 1979, he moved into investment banking in 1984 and worked for several financial institutions, including a partnership at The Carlyle Group. Got into work.

In 1992, Powell briefly met President George H.W. and Served as Under Secretary of the Treasury for Domestic Finance. bush. Powell left Carlyle Group in 2005 and founded Severn Capital Partners, a private investment firm. Before returning to public service he was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012.

After keeping its key lending rate at a two-decade high for more than a year, Powell’s comments suggest the US central bank is now almost certain to start cutting interest rates in September as inflation rises. The decline continues.