Jerome Powell, B.A., J.D. | Net Worth-$112.8 million

Jerome Powell, as Chairman of the Federal Reserve Board, often ensures to let those who ask him about fiscal policy that he will “stay in his lane” –presumably, monetary policy–and leave fiscal matters to the Congress.

Yet, Powell does make comments on the deficit–which he did, for example, in his testimony for the July 2018 Monetary Policy Report–and this topic is not in his list of responsibilities (but contribute to the policy stance (“the deficit hawk”) of not providing programs to the larger population of the United States).

net worth fed chairs

I suggest this is related to Powell’s wealth–he, his family, and friends have enough to provide for themselves. I guess this mindset is (unfairly) extended to the larger (poorer) wage-earning population.

Powell is extremely wealthy, with a net worth of $112.8 million (a lot due to a large holding of Vanguard Total Stock Market Market index fund).

Selected background articles:

The (unelected, multimillionaire) Chairman of the Federal Reserve, Jerome Powell, should not discuss fiscal policy (page 26).

https://www.bloomberg.com/gadfly/articles/2017-11-02/jerome-powell-at-the-fed-is-trump-s-kind-of-wealthy

https://www.politico.eu/article/jerome-jay-powell-janet-yellen-who-is-jay-powell-meet-trumps-federal-reserve-pick/

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