Metcalfe was an outstanding sprinter while growing up in Chicago and as a student at Marquette University (Milwaukee, Wis.). While his starts were comparatively weak, Metcalfe had an extremely long stride and was noted for the strength of his finishes. In at least eight 100-metre dashes, he tied the world record of 10.3 seconds, and he also tied the world record of 20.6 seconds in the 200-metre dash. His 100-metre dash at the 1932 Olympics in Los Angeles ended in a virtual dead heat with Tolan, both men finishing in 10.38 seconds. After hours of deliberation over a photograph of the finish, the judges determined that Tolan won by about an inch. Metcalfe also won a bronze medal in the 200-metre dash at the 1932 Games.

Metcalfe again finished second in the 100-metre dash at the 1936 Olympics; the victor, a tenth of a second faster, was Owens, whom Metcalfe defeated at other track meets. After his retirement following the 1936 Games, Metcalfe attended the University of Southern California (M.A., 1939) and engaged in a long political career, serving as a Chicago alderman and Democratic ward committeeman, then as a U.S. Congressman from Illinois (1971–78).