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Jerome Powell sells $7.2M Maryland waterfront mansion after Fed exit: report
DoubleLine founder and CEO Jeffrey Gundlach critiques the Federal Reserve’s historical rate-hiking approach, arguing Kevin Warsh’s leadership would bring a different perspective to monetary policy, on ‘Making Money.’
Former Federal Reserve Chair Jerome Powell has reportedly sold a waterfront Maryland estate for $7.2 million.
The six-bedroom, eight-bathroom home on Gibson Island changed hands in an off-market sale on Aug. 4, less than three months after Powell concluded his eight-year term as chair of the Federal Reserve, Realtor.com reported, citing public property records.
The 7,155-square-foot home sits on a two-acre waterfront lot overlooking the Magothy River, the outlet reported.
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Former Federal Reserve Chair Jerome Powell has reportedly sold a waterfront Maryland estate for $7.2 million. (Jim Watson/AFP/Getty Images)
The home was not publicly listed on a multiple listing service, with the Baltimore Business Journal first reporting the sale.
Built in 2004, the shingle-style mansion features water views from nearly every main room, along with a waterfront swimming pool, stone terraces, a private pier with a boat lift and landscaped grounds, according to Realtor.com.
Powell purchased the property for $3.86 million in 2006.
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Powell purchased the property for $3.86 million in 2006. (Google Earth)
The former Fed chair and his wife, Elissa Leonard, continue to own another home on Gibson Island that they purchased for about $3 million, Realtor.com reported.
The couple’s primary residence is in Chevy Chase, Maryland.
Powell concluded his tenure as Fed chairman in May, with Kevin Warsh succeeding him.
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Kevin Warsh succeeded Jerome Powell as Federal Reserve chairman earlier this year. (David Paul Morris/Bloomberg via Getty Images)
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During his time leading the central bank, Powell frequently clashed with President Donald Trump over interest rate policy.
FOX Business reached out to Powell and Gibson Island Real Estate for more information.
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