“Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.”

American central banker and lawyer

Jerome Hayden “Jay” Powell is an American central banker and lawyer, born in 1953. He served as the 16th chair of the Federal Reserve from 2018 to 2026, and later remained on the Federal Reserve Board of Governors. Before entering public service, Powell worked in private practice as a lawyer and as an investment banker. His public record is tied to U.S. monetary policy and the leadership of the central bank, roles that place him at the center of questions about inflation, interest rates, and financial stability.