In 1975, Jerome Powell earned a degree in politics from Princeton University, which laid the foundation for his future career in finance and public service.

In 1979, Jerome Powell earned a Juris Doctor from Georgetown University Law Center, where he was editor-in-chief of the Georgetown Law Journal. This academic achievement further shaped his expertise in legal and financial matters.

In 1992, Jerome Powell briefly served as under secretary of the Treasury for domestic finance under President George H. W. Bush. This experience contributed to his extensive career in finance and public service.

In 1993, Jerome Powell began working as a managing director for Bankers Trust, but left in 1995 after the bank suffered reputational damage due to complex derivative transactions.

In 2008, Jerome Powell became a managing partner of the Global Environment Fund, a private equity and venture capital firm that invests in sustainable energy.

In 2012, Jerome Powell became a member of the Federal Reserve Board of Governors after being nominated by President Barack Obama. This marked a significant milestone in his career in the financial sector.

In January 2014, Jerome Powell was nominated for another term on the Federal Reserve Board of Governors, and in June 2014, he was confirmed by the United States Senate for a 14-year term ending January 31, 2028.

On November 2, 2017, President Donald Trump nominated Powell to serve as the chair of the Federal Reserve, replacing Janet Yellen. Powell's nomination was later approved by the Senate, and he assumed office as chair on February 5, 2018.

Jerome Powell assumed office as the chair of the Federal Reserve on February 5, 2018.

To mitigate the financial market impact of the COVID-19 pandemic, Powell accepted asset price inflation as a consequence of Fed policy actions. This resulted in levels of wealth inequality not seen in the United States since the 1920s.

In August 2019, President Trump expressed increasing hostility towards Powell's approach, stating that he completely disagreed with it and called for a sharp cut in interest rates.

On November 19, 2020, Powell agreed to return unused crisis funds to the United States Treasury after disagreeing with Treasury Secretary Steve Mnuchin.

In January 2021, Edward Luce of the Financial Times warned that the Fed's use of asset purchases and the resultant widening of wealth inequality could lead to political and social instability in the United States.

In April 2021, Jerome Powell addressed worries about a possible housing bubble similar to the one before the Great Recession. He stated that there were no signs of bad loans or unsustainable prices, easing concerns about a housing market crash.

In August 2021, Jerome Powell anticipated the Federal Reserve to decrease economic support later in the year. This indicates a shift in the Fed's policy towards economic recovery.

On January 3, 2022, Jerome Powell's initial nomination expired and was returned to President Biden. This marked a significant step in the process of his reappointment as the chair of the Federal Reserve.

The Senate Banking Committee conducted hearings on Jerome Powell's nomination on January 11, 2022. This was a crucial step in the confirmation process for his reappointment as the chair of the Federal Reserve.

On March 16, 2022, the Senate Banking Committee favorably reported Jerome Powell's nomination to the Senate floor, with a 22–1 vote. This indicated progress in the confirmation process for his reappointment as the chair of the Federal Reserve.

On May 12, 2022, Jerome Powell was confirmed to a second term as Federal Reserve Chair in an 80–19 vote. This reaffirmed his position as a key figure in shaping the monetary policies of the United States.