Paul Tucker is the author of Unelected Power, and GLOBAL DISCORD, a Fellow at the Harvard Kennedy School, and a former central banker.



A Long Time In Finance: Bank of England Independence 25 Years On
Part 1, Part 2
On 6 May 1997, Gordon Brown raised interest rates as chancellor for the last time and then handed the keys to monetary policy to the Bank of England. In the first of a two part series, we reflect on that decision with Paul Tucker, a former deputy governor of the Bank, discussing how it was taken, the institutional upheavals and the fruits of independence.

Sir Paul Tucker on what central banks should do now
Blond Money, 13 Jan, 2021

Covid-19: Implications for international financial regulation
OMFIF, 7 April, 2020
Topics: what regulators may have missed over past decade; central banks as market makers of last resort; fiscal/monetary blurring and central bank independence; international regulatory cooperation. 

FT Friday News Briefing
20 March, 2020
Republicans in the US Senate have introduced legislation to inject more than $1tn of fiscal stimulus into the economy as it grapples with the coronavirus outbreak. Sir Paul Tucker, the former deputy governor of the Bank of England and current chair of the Systemic Risk Council, says it’s time for policymakers and bankers to prepare for a wartime setting if conditions deteriorate. Plus, the only US drugmaker that makes a potential treatment for the coronavirus raised the price nearly 100 per cent in January as the outbreak wreaked havoc in China.

Unelected Power: Caging & Limiting Central Banks
McAlvany, 10 Dec., 2019
“Somehow today’s central bank leaders need to find a way of disabusing the public of that and weaning politicians off it, and weaning, most recent, global capital markets off the drip, drip, drip of support without cracking things in the process. That’s much easier for me to sit here saying to you than it would actually be to do. But that’s what I think they need to do. “

Politics, Fed Independence, and Paul Volcker
CATO Institute, 10 Dec., 2019
The Federal Reserve is nominally independent, but the enormous pressure often aimed at Fed chairs past indicates that it’s not that simple.

Central-banking accountability: A conversation with Sir Paul Tucker, McKinsey, Nov. 2019
The former deputy governor of the Bank of England discusses deciphering the Alice in Wonderland world of negative interest rates and central-bank accountability with senior partner Eckart Windhagen.

The Financial Stability Oversight Council and non-bank financial companies, OMFIF Podcast, 2 July, 2019
In March this year, the Financial Stability Oversight Council proposed amendments to its interpretive guidance on the supervision and regulation of certain non-bank financial companies. Paul Tucker, chair of the Systemic Risk Council, and Amias Moore Gerety, partner at QED, join Mark Sobel, US chairman of OMFIF, to discuss their views on the matter. They also assess the position of non-bank financial companies in the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010, and the wider role of FSOC.

Money – in your pocket and in the bank, BBC Radio 4, 17 June, 2019
John Guy, Miatta Fahnbulleh, Paul Tucker and Alice Tapper join Andrew Marr to discuss the power of central banks and the trouble with private debt.

Paul Tucker on Central Bank Independence and “Unelected Power”, Macro Musings with David Beckworth, 25 March, 2019

In Conversation: Paul Tucker, Chair, Systemic Risk Council, OMFIF, 16 Jan., 2019

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