Who Is Jerome Powell: Trump’s Pick for Fed Chairman<br />He has voted for every policy decision since joining the Fed, including four interest rate increases,<br />and supported the Fed’s decision to unwind the bond-buying program put in place during and after the 2008 financial crisis.<br />In September 2012, when Ben S. Bernanke, the Fed chairman at the time, announced a third round of bond buying as part of<br />that program, Mr. Powell pressed for a clarification of the Fed’s goals, establishing what Mr. Powell called an “offramp” for the program.<br />After Bill Clinton took office in 1993, Mr. Powell joined Bankers Trust,<br />but decided to leave a couple of years later after several clients suffered large losses as a result of derivative deals they did with the bank.<br />Mr. Powell’s recent comments on monetary policy are basically interchangeable with recent comments by Janet L. Yellen, the current Fed chairwoman.<br />In 1990, during first President George Bush’s term, he moved back to Washington to become the Treasury Department’s under secretary for finance.
