Who is JPOW, what is his money printer and why is it such a popular phrase on Wall Street Bets?
Jerome Powell, the head chair of the Federal Reserve.
The nickname JPOW is a shortened way to say Jerome Powell’s full name. It is popular in online investing forums. As the head of the Federal Reserve, Jerome Powell provides leadership and executes the mandate of the central bank, pushing for maximum employment, stable prices, and long-term interest rates in the moderate range.
In early 2020 when the Covid pandemic was just beginning, markets around the world crashed. Every financial institution was impacted by the shutdown of economies in every country. In the United States the stock market hit new lows in March.
It was up to JPOW to infuse investor confidence back into the stock market to fuel the American economy. During that time Powell used various economic tools within his power to increase the price of various assets and boost the American economy. As a result retail investors and users in online forums began to look forward to JPOW’s updates and changes to the economy. The tools that he used to better the economy during Covid typically led to nice gains for investors.
JPOW gained a following on Wall Street Bets and has since become a popular meme. Many refer to his “money printer” and that his “his money printer go brrr”. Which means that that after he speaks and makes changes to the financial markets, tendies will be in your favor. The market has since recovered to pre-covid highs, and many attribute this to his work. Investors called this period of recovery “the stock market on easy mode”.
”JPOW keeping it real, the party goes on!”
“Shot week and JPOW’s promise to keep the money printer going. Markets will moon tomorrow.”
“JPOW’s money printer goes brrr.”