Fed Powell to Law School Graduates: "Observe and Embrace Change"

Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), advised law school graduates to observe changes and embrace them with agility. He also emphasized learning from mistakes and repeatedly falling and getting back up.

[Image source=AP Yonhap News]

According to the Fed, Chairman Powell delivered these remarks via a virtual speech at the Georgetown University Law Center graduation ceremony on the 19th (local time). The speech was pre-recorded after Powell tested positive for COVID-19.

Opening with memories from his own school days, he said, "In the years following graduation, a wave of technology-driven change occurred," adding, "The pace of change will continue to accelerate significantly." He urged graduates to "think about how to prepare for these changes and make them advantageous for yourself and society," emphasizing the importance of "embracing change and taking risks."

He also advised that when becoming a leader or undertaking new tasks, "assume you will make mistakes," and "learn from those mistakes. Do not dwell on regrets or overthink." He said, "Repeat the cycle of falling and getting back up," explaining, "The more you do this, the more you learn and the faster you develop as an individual and as a leader."

Powell mentioned that he quit being a lawyer just a few years after graduating from law school, saying, "Legal education has helped me throughout." He explained that studying law taught him how to think clearly, analyze thoroughly, and understand all sides of an argument.

He then shared an episode from his time working at an investment bank, recalling how he mustered the courage to tell his boss, Nicholas Brady, that he wanted to work for the government. "If I hadn’t forced myself to get up from my desk and walk up the stairs to his office on the 15th floor, my life would have been very different, and I wouldn’t be standing here today," he said, adding, "That small initiative changed my life."

He told the graduates, "Each of you has the ability to succeed in the field you choose," urging them to "think beyond yourselves."

In his speech that day, Chairman Powell did not comment on monetary policy or the economy.

This content was produced with the assistance of AI translation services.