The Honorable Jerome H. Powell, member of the Board of Governors of the Federal Reserve System, delivered the speech “Recent Economic Developments, the Productive Potential of the Economy, and Monetary Policy,” at a PIIE event on May 26, 2016.
Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. He was reappointed and sworn in on June 16, 2014, for a term ending January 31, 2028. Prior to his appointment to the Board, Jay was a visiting scholar at the Bipartisan Policy Center in Washington, where he focused on federal and state fiscal policy issues. From 1997 through 2005, he was a partner at the Carlyle Group. He served as an assistant secretary and as undersecretary of the Treasury under President George H. W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas. Prior to joining the administration, he worked as a lawyer and investment banker in New York City.