Assuming he's confirmed by the Senate, Jerome ("Jay") Powell will become the 16th chairman of the Federal Reserve Board in early 2018. Almost by definition, he instantly becomes the most important economic policymaker in the world. But who is he? Outside economic circles, hardly anyone knows.
So let's catch up.
Powell would be the first non-economist to head the Fed since the disastrous appointment of G. William Miller by U.S. President Carter in 1978. But parallels are strained. Even many economists don't believe academic credentials are essential.