U.S. Senator Jack Reed, a senior member of the Banking Committee, joined with the Greater Providence Chamber of Commerce to announce that Federal Reserve Board Chairman Jerome H. Powell is scheduled to visit Rhode Island on Monday, November 25.
 
The Fed Chairman will deliver a speech to the Greater Providence Chamber of Commerce at our 2019 Annual Meeting.  
 
In February of 2018, Jerome H. Powell was sworn in as the Federal Reserve’s 16th Chairman.  Chairman Powell, who previously served as a Fed governor since 2012, has also served as an assistant secretary and as undersecretary of the Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market, and related areas.  Prior to joining the Bush administration, Mr. Powell worked as a lawyer and investment banker in New York City.
 
Chairman Powell was born in February 1953 in Washington, DC.  He received an AB in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979.
 
“Chairman Powell is working to support our economy at a critical time, and we are thrilled Rhode Islanders will hear directly from the Chairman in person.  Chairman Powell is one of the few people to be tapped for key economic leadership positions by both President Obama and President Trump, and we look forward to his keen insights and outlook on the economy,” said Senator Reed.  “I am grateful Chairman Powell accepted this invitation and hope he will talk about what we must do to build a stronger and more sustainable economy.”
 
“The Greater Providence Chamber of Commerce is honored to host Chairman Powell at our Annual Meeting. We are pleased to provide Rhode Island’s business community with an opportunity to hear directly from one of the world’s leading decision makers on economic and monetary policy,” said Laurie White, president of the Greater Providence Chamber of Commerce. “Thank you to Senator Reed for his leadership on issues critical to Rhode Islanders and to the nation and for his efforts to secure Chairman Powell’s visit to our state. We look forward to hopefully hearing from Chairman Powell about his perspectives on the economy and factors which may impact its trajectory going forward.”
 
The Federal Reserve System is the central bank of the United States.  It was created by Congress and, as an independent entity, some of its duties include: conducting the nation’s monetary policy in pursuit of full employment and stable prices, supervising and regulating major banking institutions, maintaining the stability of the financial system, and providing certain financial services, such as playing a major role in operating and overseeing the nation’s payments systems.
 
The Fed’s Board of Governors oversees the Federal Reserve System.  It is made up of seven members who are appointed by the President and confirmed by the U.S. Senate.
 
Last Fall, on September 27, 2018, Chairman Powell delivered remarks to over 100 Rhode Islanders in Washington, DC for Senator Reed’s annual Rhode Island Business Leaders Day forum.