. “Fed Chair Jerome Powell Calls His $190,000 Salary ‘Fair’ Amid Public Curiosity Over His Pay”
Every day, Federal Reserve Chair Jerome Powell serves in a role that helps guide money, prices, and jobs for millions of families across the United States. As one of the most powerful economic leaders, his decisions affect everything from grocery prices to mortgages and employment.
When asked about his pay at a public Q&A session at the Economic Club of Washington with David Rubenstein, Powell said his salary is about $190,000 a year and he “believes it is fair.” He said that his compensation is set by law and not by him. He also said that if his family ever needed more money than his government salary provides, he would have to sell something he owns.
Powell’s answer surprised many people who assumed he earned far more. From 1985 to 2005, he built his wealth in investment banking and private equity. After that, he spent years in government and policy roles that paid far less than what he could have made privately. Before becoming Federal Reserve chair, he served in the U.S. Treasury Department in the 1990s and later took on additional public roles. None of these positions made him richer, and they show a consistent pattern of choosing public service over money.
(Photo: Courtesy of the Federal Reserve)
