Because powerful people's thinking is impactful, it is critical to understand how power affects cognition. We detail how recent empirical findings reveal that power often improves cognitive functioning. First, power increases controlled processing, in particular intentionality. Second, power improves executive functioning, leading individuals to exhibit better inhibition, working memory, and cognitive flexibility. Third, power increases abstract thinking. Synthesizing these last two points, we propose that high-power individuals' executive functions are enhanced due to their more abstract way of thinking. Both the greater social distance and reduced cognitive vigilance accompanying increased power could explain these effects. Finally, we note remaining questions, such as how much power's cognitive effects are driven by a subjective sense of power versus objective control.