How Trump Wound Up Picking Jay Powell

President Trump nominated Jerome Powell as the new Fed chair, influenced by Treasury Secretary Steve Mnuchin. The nomination process began during the transition period and was finalized before Trump's trip to Asia. Powell, a lawyer with investment banking experience, has a bipartisan background and played a role in debt ceiling talks during Obama's presidency. Future Fed appointments are anticipated, with John Taylor as a potential vice chair candidate.

What are the two interesting elements about Jay Powell's background?

How did Powell influence the debt ceiling talks during Obama's presidency?