Jerome Powell Biography: Wife, Age, Parents, Net Worth, Salary, Children, Height, Speech, Term

Biography

Jerome Hayden “Jay” Powell (born February 4, 1953) is a celebrated American lawyer and investment banker currently serving as the 16th Chair of the Federal Reserve since 2018.

A Washington, D.C. native, he graduated from Princeton University with a degree in politics and earned a law degree from Georgetown University.

Powell began his career in investment banking, including roles at Dillon, Read & Co. and The Carlyle Group, and served as Under Secretary of the Treasury for Domestic Finance under President George H. W. Bush.

Appointed to the Federal Reserve Board of Governors in 2012 by President Barack Obama, he was nominated as Chair by President Donald Trump in 2017 and reappointed for a second term by President Joe Biden in 2022 (ending in 2026).

Powell has guided U.S. monetary policy through challenges including the COVID-19 pandemic response, high inflation, and rate adjustments, while emphasizing the Fed’s independence. He continues to lead amid ongoing debates over interest rates and economic outlook.

Chair of the Federal Reserve of the United States
Jerome Powell
Wiki Facts & About Data
Real Name:	Jerome Hayden “Jay” Powell
Stage Name:	Jerome Powell
Born:	4 February 1953 (age 72 years old)
Place of Birth:	Washington, D.C., United States
Nationality:	American
Education:	Jesuit-run Georgetown Preparatory School, Princeton University, Georgetown University
Height:	178 cm
Parents:	Jerome Powell Sr., Patricia Powell
Siblings:	Susan Powell, Matthew Powell, Tia Powell, Libby Powell, Monica Powell
Spouse:	Elissa Leonard (m. 1985)
Girlfriend • Partner:	Not Dating
Children:	Susie Powell, Sam Powell, Lucy Powell
Occupation:	Lawyer • Investment Banker
Net Worth:	$20 million-$55 million (USD)

Early Life & Education

Jerome Hayden “Jay” Powell was born on February 4, 1953, in Washington, D.C., and grew up in the affluent suburb of Chevy Chase, Maryland, in a professional, intellectually oriented family that emphasized education and achievement.

He is one of six children, with siblings including Susan Powell, Matthew Powell, Tia Powell, Libby Powell, and Monica Powell; sources describe him as the second oldest or among the middle children.

His father, Jerome Powell Sr. (1921–2007), was a prominent lawyer in private practice specializing in labour disputes, while his mother, Patricia Powell (née Hayden; 1926–2010), was a mathematician and statistician who worked part-time for the Republican National Committee.

His maternal grandfather, James J. Hayden, was a notable academic, serving as dean of the Columbus School of Law at Catholic University of America and later lecturing at Georgetown Law School.

Powell‘s family background points to a Catholic upbringing in an affluent household, with attendance at Jesuit institutions reinforcing this heritage. His ethnicity is primarily European American, with possible Irish roots suggested by his mother’s maiden name, Hayden.

For education, Jerome Powell received a rigorous private education in the Washington, D.C. area, beginning at Georgetown Preparatory School, the Jesuit boarding and day institution in North Bethesda, Maryland, from which he graduated in the early 1970s.

He went on to Princeton University, earning a bachelor’s degree in politics in 1975 and completing a senior thesis focused on the investment climate in South Africa.

Powell later returned to Washington for law school, earning his Juris Doctor from Georgetown University Law Center in 1979, where he served as editor-in-chief of the Georgetown Law Journal.

Career

Jerome Powell began his career after graduating from Georgetown University Law Center in 1979, first clerking for a federal appeals court judge and then moving into investment banking in the early 1980s.

He worked at several firms, most notably Dillon, Read & Co., where he advanced to vice president between 1984 and 1990. Afterwards, he spent time at Bankers Trust before joining The Carlyle Group in 1997, becoming a partner focused on industrial and financial services investments until 2005.

Powell’s public service started earlier, in 1992, when President George H.W. Bush appointed him Under Secretary of the Treasury for Domestic Finance. In that role, he managed federal debt policy and oversaw financial institutions during a challenging economic period. After leaving the Treasury in 1993, he returned to the private sector, later founding his own investment firm.

From 2008 to 2010, he served as a managing director at the Global Environment Fund, concentrating on emerging markets and environmental investment strategies. In 2010, he joined the Bipartisan Policy Center as a visiting scholar, contributing research on federal debt and fiscal policy.

Powell’s central banking tenure began in 2012 with his appointment to the Federal Reserve Board of Governors by President Barack Obama. During his time on the Board, he regularly supported measured regulatory reforms following the global financial crisis.

In November 2017, President Donald Trump nominated him to succeed Janet Yellen as Chair of the Federal Reserve, and he took office on February 5, 2018. President Joe Biden later renominated him in 2021, and the Senate confirmed him for a second term running through 2026.

As Fed Chair, Powell has guided U.S. monetary policy through major economic upheavals, including the emergency response to the COVID-19 pandemic—marked by near-zero interest rates and large-scale asset purchases—and the subsequent tightening cycle beginning in 2022 to stem inflation that had surged above 9%.

By late 2024 and into 2025, he oversaw the shift toward rate cuts as inflation cooled while the labour market remained strong. Known for his steady, consensus-driven leadership and his commitment to the independence of the central bank, Powell remains one of the most influential figures in global economic policy.

Personal Life

Jerome Hayden Powell, born on February 4, 1953, is 72 years old.

His height is generally reported to fall between 5 feet 10 inches (178 cm) and 6 feet (182 cm), with many sources placing him closer to the taller estimate.

He has been married to Elissa Ann Leonard, a filmmaker and producer, since September 14, 1985. Their wedding took place at the Bethlehem Chapel in the Washington National Cathedral.

The couple lives in Chevy Chase Village, Maryland, where Elissa has been involved in local community activities. They have three children—Lucy Powell, Samuel “Sam” Powell, and Susie Powell—and are known for maintaining a quiet, low-profile family life, with Powell often described as valuing modesty and balance despite the visibility of his career.

Net Worth

Jerome Powell’s net worth is estimated to range from $20 million to $55 million, according to public financial disclosures and analyses from sources such as Wikipedia, Bloomberg, and various financial outlets.

Some estimates, including those from Celebrity Net Worth, place his wealth closer to $50 million, while earlier disclosures showed ranges like $17.7–$54.9 million in 2019.

Most of his financial standing comes from his career before joining the Federal Reserve, particularly his years as a partner at The Carlyle Group from 1997 to 2005, rather than from his government salary.

His portfolio includes a mix of index and bond funds, real estate, and other diversified investments, including a multimillion-dollar residence in Chevy Chase Village, Maryland.

As Federal Reserve Chair, he earns a comparatively modest government salary of around $190,000 to $250,000 per year, depending on periodic adjustments, which plays only a minor role in his overall wealth. Powell is widely regarded as one of the wealthiest individuals to serve as Fed Chair in recent decades.