Jerome Hayden “Jay” Powell is the 16th Chair of the Federal Reserve, serving in that office since February 2018.
Jerome Hayden “Jay” Powell is the 16th Chair of the Federal Reserve, serving in that office since February 2018. He was nominated to the Fed Chair position by President Donald Trump, and confirmed by the United States Senate.
Powell earned a degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979. He moved to investment banking in 1984, and has since worked for several financial institutions. He briefly served as Under Secretary of the Treasury for Domestic Finance under President George H. W. Bush in 1992. More recently, he was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012. He has served as a member of the Federal Reserve Board of Governors since 2012. He is the first Chair of the Federal Reserve since 1987 not to hold a Ph.D. degree in Economics.
Powell has faced substantial and repeated criticism from President Donald Trump after his confirmation.
Federal Reserve
Thu, Feb 5th, 1953
American
Chevy Chase, Maryland, United States
Princeton University (BA) (1972-1975)
Georgetown University (JD) (1979)
Federal Reserve - Chair
Federal Reserve Board of Governors - Member
Treasury for Domestic Finance - Under Secretary, (1992–1993)
The fiscal and economic policies being rolled out by the Feds in various nations, particularly the United States can also help in the Bitcoin price retracement moves.
Chinese crackdown on tech and education companies put pressure on Asian indices. On the other hand, the US tech giants continue to post stellar returns in the second-quarter earnings season.
Inflation numbers for June have been much higher than expected with some Fed officials hinting that the upside risks are increasing.
Fed Chairman Jerome Powell tries to abate inflation fears saying that the consumer price surge is a temporary event. Wall Street reacted positively to Powell’s statement closing in the green.
The losses that are seen in the Dow Jones Industrial Average, as well as other market trackers, can also be attributed to the rising inflation fears.