A snapshot of Jerome Powell, who becomes Fed chairman Monday

NAME: Jerome H. "Jay" Powell

BIRTHDATE: Feb. 4, 1953

BIRTHPLACE: Washington, D.C.

EDUCATION: Bachelor's degree in politics, Princeton University, 1975; law degree, Georgetown University, 1979.

EXPERIENCE: Member, Federal Reserve board, 2012 to present; visiting scholar at the Bipartisan Policy Center in Washington; partner at the Carlyle Group, 1997 through 2005; assistant secretary and undersecretary at Treasury Department during administration of President George H.W. Bush; after graduating from law school in 1979, joined Wall Street investment bank Dillon, Read & Co.

FAMILY: Married with 3 children.

QUOTE: "Simple policy rules are widely thought to be both interesting and useful but to represent only a small part of the analysis needed to assess the appropriate path for policy. I am unable to think of any critical, complex human activity that could be safely reduced to a simple summary equation."