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

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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.

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