Jerome Powell Reveals His Daily Routine as Head of the Federal Reserve

What’s it like to run the world’s most influential central bank? In a rare moment of candor at the Economic Club of Chicago yesterday (April 16), Federal Reserve Chair Jerome Powell gave a glimpse into his daily routine—and addressed the political pressures threatening the Fed’s independence.

Powell has served as the 16th chair of the Fed since 2018, steering the institution through a whirlwind of economic crises, from the Covid-19 pandemic to the highest inflation in four decades and tariffs not seen in over a century.

President Donald Trump once described the Fed chair as the “greatest job in government,” saying, “You show up to the office once a month and you say, ‘Let’s see, flip a coin.’ And everybody talks about you like you’re a god.”

At yesterday’s fireside chat, the interviewer Raghuram Rajan, the former head of India’s central bank, asked Powell if the President’s perspective reflects reality. “I would agree, I think it’s the best job in government,” Powell responded, triggering audience laughter.

“And I really do enjoy it,” he went on to elaborate. “I do what everyone expects me to do. We do a little more reading as part of our daily regimen than the typical executive would do.”

“In terms of feeling like a god, we are blessed with a large number of aptly compensated critics who kind of tend to undercut that. So we don’t feel like a god,” Powell joked.

Powell reaffirms the Federal Reserve’s independence

The Federal Reserve is an independent government agency that reports to Congress. But President Trump has repeatedly challenged the central bank’s autonomy and threatened to fire Chair Jerome Powell, who has criticized the President’s tariff policy, warning it would increase inflation and hinder economic growth. Just today, Trump posted on Truth Social, “Termination could not come fast enough.”

It remains unclear whether the President has the legal authority to remove Powell. Under current law, the executive branch must provide a non-political justification to prove that the Fed chair is no longer capable of fulfilling the role.

The Supreme Court is currently deliberating Humphrey’s Executor v. United States, a case that could potentially grant the President broader authority to dismiss the heads of independent federal agencies for political reasons.

Commenting on the case, Powell said, “I don’t think that decision will apply to the Fed, but I don’t know, it’s a situation we are monitoring carefully.”

He reassured the audience of the central bank’s independence, saying “Our independence is a matter of law. Congress could change that law, and I don’t think there is any danger of that…We will never be influenced by any political pressure.”

The Fed chair also shared a glimpse of his life outside of drafting monetary policies. When asked what he enjoys beyond work, Powell said, “I play one of my guitars. I do Zoom calls with my kids and my grandkids. And I go to the gym a lot, just to stay healthy.”