Jerome Powell has been an investment banker for decades. The financial career typically increases an individual’s income and their overall net worth over time, but now that he’s the chair of the Federal Reserve, has that affected his personal finances?
Throughout his career in the Federal Reserve, Powell’s net worth has fluctuated, as seen in past financial disclosure reports.
Below, learn where Powell’s net worth stands now and learn more about his current conflict with Donald Trump, who has called for his termination from the Federal Reserve.
Who Is Jerome Powell?
Powell is a lawyer and an investment banker. He began his career as an attorney after graduating from Princeton University and Georgetown University Law Center. Then, by the 1980s, he focused on investment banking.
Jerome Powell’s Net Worth
Powell’s net worth has fluctuated over the years. When he was nominated, his net worth ranged between $19.7 million to $55 million, according to The Washington Post and Fox Business. By 2019, however, Powell’s net worth decreased to somewhere between $17.7 and $54.9 million, per Fox Business, citing his financial disclosure statements from 2019.
Is Jerome Powell Getting Fired by Donald Trump?
Powell denied that Trump could fire him. The Federal Reserve chair noted that a president firing a member of the U.S. central bank is “not permitted under the law.” However, Trump has made it clear that he wants Powell to leave his position one way or anther.
In a Truth Social post, Trump wrote that Powell was “Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG.”
“Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!” Trump added in his post.
Who Appointed Jerome Powell?
In 2012, he was nominated to become a member of the Federal Reserve Board of Governors by Barack Obama. During Trump’s first presidency, the Republican nominated Powell to serve as chairman, and Joe Biden renominated him during his respective presidential term. After Trump took office again in January 2025, Powell criticized the president for his policy on tariffs. Powell has stated that inflation could rise, but Trump has denied Powell’s estimates.
When Does Jerome Powell’s Term End?
Powell took office as the Federal Reserve chair in 2018, and his term is expected to end in May 2026.
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