Fed Chair Jerome Powell Urges Law Graduates To 'Think Beyond Their Personal Success': 'Little Initiative Can Make All The Difference'

In a recent address at Georgetown University Law Center, Federal Reserve Chair Jerome Powell encouraged graduates to consider public service as a career path. Powell, who is currently isolating after testing positive for COVID-19, shared personal anecdotes about his career in public service.

What Happened: Powell, an alumnus of Georgetown University Law Center, delivered a commencement address on Sunday, urging graduates to think beyond their personal success and consider giving back to society. He emphasized that his legal education had opened up numerous opportunities, including a career in government.

"Each of you has the capability to achieve success in any field you choose; it is important that you also consider how to give back and use your gifts to make a difference," he said, encouraging the graduates to "think beyond yourselves."

Despite leaving the legal profession a few years after obtaining his degree, Powell stressed the importance of considering a career in public service. He shared his personal experience of expressing his interest in government service to his then-boss, Nicholas Brady, at investment bank Dillon Read & Co. This initiative eventually led to a significant shift in his career trajectory.

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"The point is this: if I had not forced myself to get up from my desk, taken the stairs up to the 15th floor, and presented myself to his office that day, the rest of my life would have been very different, and I would not be standing here today," Powell said.

"Mustering that little bit of initiative changed my life," he said. "A little initiative can make all the difference in anyone's career."

Why It Matters: Powell’s address comes at a time when the financial sector is undergoing significant changes. The Federal Reserve, under Powell’s leadership, is reportedly considering a significant reduction in proposed capital norms for big banks. This shift could have a far-reaching impact on the industry.

With the 2024 U.S. presidential election approaching, Powell’s emphasis on the value of public service also resonates with the ongoing scrutiny of his leadership and the Fed’s independence from political pressures.

Despite these challenges, Powell’s leadership and the Federal Reserve’s policies continue to shape the financial landscape. The recent introduction of the ‘End The Fed’ bill by Rep. Thomas Massie (R-Ky.), a close ally of Marjorie Taylor Greene, is a clear indication of the ongoing debates surrounding the Federal Reserve’s role and policies.

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Photo courtesy of the Federal Reserve

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