Powell sells Maryland waterfront estate

Former Federal Reserve Chair Jerome Powell sold a Maryland waterfront estate for $7.2 million, less than three months after concluding his term as Fed chair. The property, purchased by Powell in 2006 for $3.86 million, is a waterfront mansion on Gibson Island featuring water views, a pool, and private pier. Powell and his wife own another home on Gibson Island and a primary residence in Maryland; Powell stepped down as Fed chair earlier this year and was succeeded by Kevin Warsh.

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