Who Is Jerome Powell: Trump’s Pick for Fed Chairman
He has voted for every policy decision since joining the Fed, including four interest rate increases,
and supported the Fed’s decision to unwind the bond-buying program put in place during and after the 2008 financial crisis.
In September 2012, when Ben S. Bernanke, the Fed chairman at the time, announced a third round of bond buying as part of
that program, Mr. Powell pressed for a clarification of the Fed’s goals, establishing what Mr. Powell called an “offramp” for the program.
After Bill Clinton took office in 1993, Mr. Powell joined Bankers Trust,
but decided to leave a couple of years later after several clients suffered large losses as a result of derivative deals they did with the bank.
Mr. Powell’s recent comments on monetary policy are basically interchangeable with recent comments by Janet L. Yellen, the current Fed chairwoman.
In 1990, during first President George Bush’s term, he moved back to Washington to become the Treasury Department’s under secretary for finance.