Jerome Powell Encourages Graduates to Embrace Risk and Initiative in Career Pursuits

Federal Reserve Chairman Jerome Powell advised Princeton University’s Class of 2025 to embrace risk-taking and initiative as essential components of long-term success, emphasizing that avoiding failure entirely is often a greater mistake than experiencing it, CNBC reports.

In his commencement address on Sunday, Powell reflected on key moments that shaped his career, urging graduates not to shy away from challenges or fear making mistakes.

“As you strive in coming years to reach your full potential, you’ll need to take risks — and yes, to make mistakes,” Powell told the crowd. “Everyone, and I mean everyone, makes mistakes. But the bigger mistake is to avoid taking risks.”

Powell, who joined the Federal Reserve Board of Governors in 2012 and has served as Chair since 2018, shared personal insights about leadership and professional growth. According to Powell, readiness is often an illusion when it comes to stepping into leadership roles.

“Go for it. Throw yourself into the deep end of the pool, believe in yourself, take risks,” he said. “When you fall down — and you will — get up and repeat the cycle.”

Central to Powell’s message was the importance of initiative — a quality he described as the “rocket fuel of life.” He acknowledged that he was not an entrepreneur or tech founder, but pointed to seemingly small acts of initiative that significantly shaped his path.

One such example involved his time at a firm led by former US Senator Nicholas F. Brady. Though unsure of how the interaction might unfold, Powell made the decision to walk up to Brady’s office and introduce himself. That brief meeting eventually led to Powell being invited to join a project with Brady, who later became US Treasury Secretary and brought Powell on as assistant secretary.

“If I hadn’t forced myself to walk up those stairs and take what I saw as a risky and potentially awkward step, I wouldn’t be standing here today,” Powell said.

The story illustrated Powell’s broader message that many meaningful moments — whether career opportunities, friendships, or even romantic relationships — stem from the willingness to step out of one’s comfort zone.

“On occasions like that we risk failure, awkwardness, embarrassment and rejection,” he noted. “But that’s how we create the career opportunities, the great friendships, and the love that make life worth living.”