Who Is Jerome Powell, The Fed’s New Chairman?by Forbes Middle East Forbes Middle East - Business News
Jerome Powell became chairman of the U.S. central bank, better known as the Federal Reserve (Fed), on February 3, 2018. Recommended Features
- Donald Trump
- Federal Reserve
- Janet Yellen
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Review on Who Is Jerome Powell, The Fed’s New Chairman?His predecessor Janet Yellen is the first chairman of the Fed since World War II to serve only one four-year term, and was the first woman to hold that position.
Powell has inherited a healthier economy than Yellen did, with unemployment at 4.1 %, a 17-year low.
A former investment banker, Powell will be the first Fed chairman in 40 years who doesnt have a PhD in economics. Trained as a lawyer, Powell made his money (estimated between $20 million and $55 million in November 2017) as an investment managerhis appointment could play towards President Donald Trumps plan to loosen Wall Street regulations in order to push economic growth.
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Created on Feb 6th 2018 01:11. Viewed 440 times.
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