Federal Reserve Chair Powell anticipates that inflation in the United States will continue to decrease in the forthcoming months.
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.
Jerome Hayden “Jay” Powell
(born February 4, 1953) is an American attorney and investment banker who has served since 2018 as the 16th chair of the Federal Reserve.
After earning a degree in politics from Princeton University in 1975 and a Juris Doctor from Georgetown University Law Center in 1979,he moved to investment banking in 1984, and worked for several financial institutions, including as a partner of The Carlyle Group. In 1992, Powell briefly served as under secretary of the Treasury for domestic finance under President George H. W. Bush. Powell left Carlyle Group in 2005 and founded Severn Capital Partners, a private investment firm. He was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012, before returning to public service
