Challenges Faced by Jerome Powell: Obstacles and Turning Points

Life is full of challenges, and Jerome Powell faced many. Discover key struggles and how they were overcome.

Jerome Powell is an American investment banker and lawyer currently serving as the 16th chair of the Federal Reserve, a position he has held since 2018. He is expected to remain in this role at least through 2026, including during a potential second presidency of Donald Trump. His leadership at the Federal Reserve places him at the center of US monetary policy.

Sections (3)

Full Timeline Career & Achievements Challenges & Struggles

September 2012: QE3 Skeptic

In September 2012, Powell was skeptical of round 3 of quantitative easing (QE3), although he eventually voted for it.

August 2020: Investors warn of a dangerous speculative bubble

In August 2020, investors Leon Cooperman and Seth Klarman cautioned about a dangerous "speculative bubble," with market psychology "unhinged from market fundamentals".

2020: Actions to Counter COVID-19 Pandemic Impact

In early 2020, Powell launched an unprecedented series of actions to counter the financial market impact of the COVID-19 pandemic.

January 2021: Warning of political and social instability due to wealth inequality

In January 2021, Edward Luce of the Financial Times cautioned that the Federal Reserve's asset purchases and the resultant widening of wealth inequality could potentially lead to political and social instability in the United States.