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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PODCASTS

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Rhodes Center Interview, 24 Oct., 2018

Regulators – Unelected Power & Uncertain Constitutional Position, London Fintech Podcast, Fall 2018

The Reluctant Central Banker, Capitalisn’t, 5 July, 2018

Money talks: G7 handshakes at dawn The Economist, 12 June, 2018

Alphachat podcast: Sir Paul Tucker on the legitimacy of the central bank FT, 18 May, 2018

The economist and former deputy governor of the Bank of England joins the FT’s John Authers to debate the power of government agencies and the unelected officials leading them, including those at the helm of institutions like the Federal Reserve. It’s the subject of his recent book, “Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State.”

The quest for legitimacy in central banking and the regulatory state, with Paul Adamson, E!SharpJune 2018

Director’s Cut: Central banking and the problem of unelected power. Bruegel director Guntram Wolff discusses current tensions in central banking governance with Paul Tucker,Bruegel5 June 2018

Regulating the regulators: The power and legitimacy of the central bankers directing our economy, Resolution Foundation, 22 May 2018

IN THE NEWS

Central Bank Independence: Just How Much Power Do We Give Technocrats?Bloomberg Quint Opinion, 30 Oct., 2018

Why is Democracy Faltering?, Project Syndicate, 25 Oct., 2018

Institute of Economic Affairs Book Review, 25 Oct., 2018

The Taming of the Few, The American Interest, 16 Oct., 2018

So schwindet die LegitimitätTages-Anzeiger, 13 Oct., 2018

Ce n’est pas à Mario Draghi de sauver Rome, Le Temps, 8 Oct., 2018

Sir Paul Tucker backs calls for break up of Big Four, by Chris Newlands, Financial News, 8 Oct., 2018

Overview: Democracy Or Technocracy? Tucker’s Book is a Bold Attempt But Falls Short, by Leon Wansleben, RADIX, Sept., 2018

He’s Blowing The Whistle On Central Banks, Ozy, 26 Sept., 2018

A banker’s quest for legitimacy, Inside Story, 13 Sept., 2018

Post Lehman: Are central banks too powerful?, LiveMint, 10 Sept., 2018

Populism thrives when bureaucrats wield total control, The Daily Telegraph, 8 Sept., 2018

Book Review by Richard N. Cooper: Unelected Power, Foreign Affairs, Sept./Oct., 2018

Bringing accountability to powerful, unelected officials, Washington Post, 13 Sept., 2018

Ex-Bank of England deputy governor says ‘pay top bankers in bonds’, Financial News, 7  Sept., 2018

Post-crisis, Do Central Banks Wield Too Much Power?, Wharton, 30 Aug., 2018

Reining in Technocracy to Increase Democratic Legitimacy, Regulatory Review, 8 Aug., 2018

Paul Tucker on Unelected Power: A Technocrat against Technocracy ProMarket, 23 July, 2018

A Former Central Banker Tells Other Central Bankers: “Stay Away From Davos” ProMarket, 3 July, 2018

Time to look again at the role of consumer welfare in our competition policy, The Times, 26 June, 2018

Das ist gefährlich, BILANZ, July 2018

‘Unelected Power’ Review: Monetary Mavericks, WSJ, 28 June, 2018

The Guardian view on hyper-populism: it’s infecting politicians and technocratsThe Guardian, 24 June, 2018

How Democratic Is The Euro?, Social Europe, 18 June, 2018

A Central Banker’s Plea for Less Power, Bloomberg, 17 June, 2018

Unelected central bankers are too mighty for everyone’s good, says former policy maker, MarketWatch, 15 June, 2018

Unelected power: banking’s biggest dilemma, NewStatesman, 13 June, 2018

New City Agenda with Paul Tucker, New City Agenda, 12 June, 2018

Central bankers are getting nervous about their cherished independenceProspect, 1 June, 2018

Take Tucker’s tip, Standpoint Magazine, June, 2018

Les banquiers centraux doivent battre en retraite , LeMonde, 2 June, 2018

Controlling the Supreme Court of Finance, Project Syndicate, 31 May, 2018

Die unheimliche Macht der Notenbanken, Die Weltwoche, 30 May, 2018

Delegating power to the governors: Tucker’s framework for central banking OMFIF 22 May, 2018

Making Unelected Power Legitimate Money, Banking, and Financial Markets, 21 May, 2018

Center for Financial Stability with Lawrence Goodman interview CFS, 17 May, 2018

The Only Game in Town: Central Banking as False Hope ProMarket, 14 May, 2018

The limits of central banks’ independence – public support? Policy Exchange, 10 May, 2018
Policy Exchange was pleased to welcome Sir Paul Tucker to launch his book Unelected Power: The quest for legitimacy in central banking and the regulatory state. The book explores two issues that Policy Exchange takes a serious interest in: monetary policy and financial market regulation, and the tendency for policy decisions to be taken by technocratic elites that are removed from direct political guidance and oversight. These are the issues that are at the heart of our Judicial Power Project. They are also reflected in a wider range of institutional questions touching on matters ranging from utility regulation to competition policy.

Who do ‘rock-star’ central bankers answer to? Financial Times, 10 May, 2018

Tucker: Transparency Is Important, The Age of Mystique is Gone  Bloomberg Surveillance, 10 May, 2018
Paul Tucker, Former Deputy BOE Governor and Author of ‘Unelected Power,’ believes that Central Bankers are becoming the poster boys & girls of people making decisions that we didn’t elect.

A veteran central banker’s advice to Congress and the Fed on how best to preserve the Fed’s independence Brookings Institution, 9 May, 2018
Paul Tucker, drawing from his 33 years as a central banker, says that Congress should be much more specific about the objectives it wants the Federal Reserve to achieve and the Fed should try harder to explain what it’s doing.

The Exchange: Putting limits on central-bank power Reuters, 4 May, 2018
Central bankers emerged from the financial crisis with more clout than ever before. Can this be reconciled with democratic legitimacy? Former Bank of England Deputy Governor Paul Tucker explains why monetary authorities have become “overmighty citizens”, and how to rein them in.

Reducing the Power, The London Institute of Banking and Finance, Financial WorldApril 2018

Central banks ‘lack firepower needed to deal with recession  The Times, 30 April, 2018
The Bank of England may face questions about its legitimacy should another recession strike before it has raised interest rates and rebuilt its monetary policy war chest, a former deputy governor has warned.

We haven’t killed off the culture of greed, warns Sir Paul Tucker  The Times, 12 Aug., 2017
Sir Paul Tucker, former deputy governor of the Bank of England, remembers the run on Northern Rock rather differently from the televised images of queues snaking out of the one-time building society’s branches nearly a decade ago.

Sir Paul Tucker warns of complacency on bank risk Financial Times, 30 Nov.,2017
Sir Paul Tucker, the former deputy governor of the Bank of England, has warned policymakers to increase banks’ equity capital requirements to avoid projecting a false sense of security about the likelihood of coping smoothly with the failure of large banks.

Central banks ‘have never been on thinner ice’ MarketWatch, 8 Oct., 2016

The objectives of financial stability policy VOX CEPR’s Policy Portal, 28 Feb., 2016
The objective of financial stability policy is unclear. Is it the resilience of the financial system, avoiding the costs of systemic collapse, or managing the credit cycle, containing the costs of resource misallocation and over-indebtedness? This column argues that the answers have serious implications for what can decently be delegated to independent ‘macroprudential authorities’, but have barely been debated in those terms.

Former BoE deputy Sir Paul Tucker to chair US advocacy group Financial Times, 9 Dec., 2015
Paul Tucker, the former Bank of England deputy governor, has vowed to use his role as chair of a regulatory advocacy group to ensure policymakers’ commitment to reform the financial system does not wane as the crisis fades from memory.

To book Paul Tucker for a speaking engagement, contact Harry Walker Agency.

For complete video archive, visit Paul Tucker’s YouTube page.