Jerome Powell

Jerome H. Powell (2022)

Jerome Hayden Powell (born February 4, 1953), also known as "Jay", is an American economic advisor, lawyer, and former investment banker serving as the 16th chair of the Federal Reserve. He was nominated to the Board of Governors in 2012 by President Barack Obama, and subsequently nominated as chair by President Donald Trump, confirmed in each case by the United States Senate.

Quotes

• We need to move away from very low interest rates. They're not appropriate for the current situation in the economy.
  • The Federal Reserve raises interest rates for the first time since 2018 (Updated March 16, 2022)

Quotes about Powell

• So I think the reason that the newspapers are going quiet on this is the Fed broke the law. And it wants to continue breaking the law. And that's why these Wall Street banks fought so hard to get the current head of the Fed reappointed, [Jerome] Powell, because they know that he's going to do what [Timothy] Geithner did under the Obama administration. He's loyal to the New York City banks, and he's willing to sacrifice the economy to help the banks.
  • Michael Hudson, quoted by Ben Norton, in Economist Michael Hudson explains inflation crisis and Fed's secretive $4.5 trillion bank bailout, Geopolitical Economy Report Subtitle: Economist Michael Hudson discusses the global inflation crisis and how the US Federal Reserve quietly (and apparently illegally) bailed out big banks in 2019 with $4.5 trillion of emergency repo loans (8 Jan 2022)

• As House Speaker, I congratulate Federal Reserve Chairman Powell on his nomination to lead the world’s most consequential central bank for a second term.  The House looks forward to continuing to work closely with him to build on Democrats’ progress to create good-paying jobs, lower costs for families, fight inflation and Build Back Better For The People.
 

• Chairman Powell has brought steady leadership and sound judgment to the Federal Reserve’s mission of promoting maximum employment, stable prices and a sound financial system, especially during a time of unprecedented crisis.  His proven track record and goal of achieving ‘broad-based and inclusive’ employment while lowering families’ costs will continue serve the country well, as America, under the leadership of President Biden, rebounds and Builds Back Better from crisis



* Democrats are committed to Building Back Better For The People – creating jobs, cutting taxes, lowering costs and making the wealthiest few and big corporations pay their fair share
  • Nancy Pelosi Pelosi Statement on President Biden’s Nomination of Federal Reserve Chairman Jerome Powell (November 22, 2021)

• [Powell is a] dangerous man to head up the Fed [and he has] regularly voted to deregulate Wall Street [a Republican majority at the Fed under Powell's leadership could] drive this economy over a financial cliff again
  • Elizabeth Warren Biden to nominate Jerome Powell as Federal Reserve chairman (November 22, 2021)

• [Economic recovery] is a testament to the success of the President' economic agenda, and it is a testament to decisive action by Chair Powell and the Federal Reserve to cushion the impact of the pandemic and get America's economy back on track
  • White House Biden to nominate Jerome Powell as Federal Reserve chairman (November 22, 2021)