Career Timeline of Jerome Powell: Major Achievements and Milestones
How Jerome Powell built a successful career. Explore key moments that defined the journey.
Jerome Hayden "Jay" Powell is an American investment banker and lawyer. He currently serves as the 16th chair of the Federal Reserve, a position he has held since 2018. As chair, he is responsible for guiding US monetary policy and plays a significant role in the country's economic stability. Powell's decisions on interest rates and other monetary tools impact inflation, employment, and overall economic growth.
November 22, 2021: Powell renominated for a second term by President Joe Biden
On November 22, 2021, Jerome Powell was renominated for a second term by President Joe Biden.
January 3, 2022: Powell's initial nomination expired
Jerome Powell's initial nomination expired at the end of the year and was returned to President Biden on January 3, 2022.
January 11, 2022: Hearings held on Powell's nomination
On January 11, 2022, hearings were held on Jerome Powell's nomination before the Senate Banking Committee.
February 2022: Powell's term as chair expiring
In light of Jerome Powell's term as chair expiring in February 2022, many Democrats began to express opposition to his reappointment.
March 16, 2022: Committee favorably reported Powell's nomination
On March 16, 2022, the Senate Banking Committee favorably reported Jerome Powell's nomination to the Senate floor in a 22–1 vote.
May 23, 2022: Powell sworn in for his second term as chair
On May 23, 2022, Jerome Powell was sworn in for his second term as chair.
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