page_title: Jerome Powell
section_title: Financial regulation
hierarchical_section_title: Jerome Powell / Economic philosophy / Financial regulation
caption_attribution_description: Chairman Powell presents the Monetary Policy Report to the Senate Committee on Banking, Housing, and Urban Affairs. Report here: &lt;a href="https://www.federalreserve.gov/monetarypolicy/2018-07-mpr-summary.htm" rel="nofollow"&gt;www.federalreserve.gov/monetarypolicy/2018-07-mpr-summary...&lt;/a&gt;
context_page_description: Jerome Hayden "Jay" Powell is the 16th Chair of the Federal Reserve, serving in that office since February 2018. He was nominated to the Fed Chair position by President Donald Trump, and confirmed by the United States Senate.
  Powell earned 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 has since worked for several financial institutions. He briefly served as Under Secretary of the Treasury for Domestic Finance under President George H. W. Bush in 1992. More recently, he was a visiting scholar at the Bipartisan Policy Center from 2010 to 2012. He has served as a member of the Federal Reserve Board of Governors since 2012.
context_section_description: Powell "appears to largely support" the Dodd–Frank Wall Street Reform and Consumer Protection Act, although he has stated that "we can do it more efficiently". In an October 2017 speech, Powell stated that higher capital and liquidity requirements and stress tests have made the financial system safer and must be preserved. However, he also stated that the Volcker Rule should be re-written to exclude smaller banks.
caption: Powell testifies before the U.S. Senate Committee on Banking, Housing, and Urban Affairs in 2018
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