Former central banker Paul Tucker is the chair of the Systemic Risk Council, a Fellow at the Harvard Kennedy School, and author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. 

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Monetary Policy

Central Banking for a Post-Crisis World: Some Thoughts on Independence,Democracy and Legitimacy

The ancient history of Athens provides a point of departure for my remarks today. You do not have to venture far from this conference hall to see two hills central to the foundations of western civilization – of liberal democracy. They carry powerful messages down the centuries.  READ MORE

The Governance of Monetary and Financial Stability Policy

The Clearing House: Banking Perspectives

Since the financial crisis, the world’s major central banks have accumulated much more power. Is that OK? Does it fit with our democratic values? The delegation of power by legislatures surely needs to do so if central bank independence, and even confidence in our system of government itself, is to be sustained. More