Jerome Hayden “Jay” Powell, born in 1953) is the current president of the Federal Reserve, the American central bank. He was nominated by Donald Trump, President of the United States, and confirmed by the Senate. He replaces Janet Yellen as head of the central institute. He has many years of experience in investment banking.
Powell is a JD from Georgetown University in 1979. He entered the investment banking industry in 1984 and has since worked for various financial institutions. He served as Under Secretary of the Treasury for National Finance under President George H. W. Bush in 1992 and was a visiting academic at the Bipartisan Policy Center from 2010 to 2012. As of 2012, he is board of governors of the Federal Reserve.
Powell pursues more accommodative monetary policy than the average among Fed decision-making board members. Other pundits deem him "neutral." Jerome Powell has been notoriously against starting the third round of quantitative easing that started in 2012, although he has voted in favor of implementation.
Read more: Who is Jerome Powell, the new Fed chairman? Origins, biography and monetary policy
