Podcasts about sir paul tucker

Sir Paul Tucker, Fellow at the Harvard Kennedy School and former Deputy Governor of the Bank of England, talks to Paul Adamson about his latest book 'Global Discord: Values and Power in a Fractured World Order'.

This week David & Michael speak to Sir Paul Tucker, former deputy governor at the Bank of England about what it was like to be there during the 2008 banking crisis and what it has taught us about how to handle monetary policy during a financial crisis.

Interview recorded - 1st of May, 2023On todays episode of the WTFinance podcast I had the pleasure of welcoming Sir Paul Tucker. Paul spent more than 3 decades in Central Banking, culminating in being the Deputy Governor of the Bank of England. He is also the author of the recently released book “Global Discord: Values and Power in a Fractured World Order”.During our conversation we spoke about the threat of a global fracturing, why China is unlikely to change, what a China/US split would look like and how Central Banking could change in the future. I hope you enjoy! 0:00 - Introduction 1:05 - Influence for writing the book?2:35 - What was the previous global order and why does China want to change it?6:35 - Why was China conflict on Paul's radar?8:55 - Were Western politicians naive about China?13:35 - Document 9 of the Chinese Communist Party18:40 - Russia Central Bank reserves frozen20:35 - Why is WTO and other international organisations brittle and how could China change these organisation?24:15 - What would a US/China split look like?29:05 - Best case scenario?31:40 - How have central banks changed in the last decade?39:45 - How should banks be saved?42:15 - How can central banks recover their trust?53:15 - Why Central Banks need to be tougher on shadow banks?57:50 - One message to takeaway from our conversation?Sir Paul Tucker is a Research Fellow of the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School.He is the author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State (2018). Described as “masterful” by Dani Rodrik and “profoundly important” by Larry Summers. His new book, GLOBAL DISCORD: VALUES AND POWER IN A FRACTURED WORLD ORDER, due out in FALL 2022, is about the geopolitics and legitimacy of the international economic and legal system. Both books are at the interface of political economy and political philosophy.Tucker spent more than three decades in central banking, occupying senior positions in the international policymaking world, and was knighted by Britain in 2014.From 2016 to 2021, he was the chair of the Systemic Risk Council, the independent body of former top central bankers, government officials and financial experts dedicated to a stable financial system.As Deputy Governor at the Bank of England from 2009 to October 2013, he was at the centre of efforts to contain the financial crisis and to reshape the international regulatory framework for financial stability. Former Governor of the Bank of England Mervyn King said, “Paul probably understands more about central banking than anyone else. He knows about every aspect of that arcane art and now he [is] free to tell the rest of the world what happens behind those high walls.”At the Bank of England, he was a member of the Monetary Policy Committee, Financial Policy Committee (vice chair), Prudential Regulatory Authority Board (vice chair), and Court of Directors. During his thirty-plus years there, he led staff teams on monetary policy strategy, market operations, and financial stability, as well as working as a bank supervisor. He had secondments to an investment bank and to Hong Kong, where he helped reform their securities markets and regulation following the 1987 stock market crash.Sir Paul Tucker: Website - http://paultucker.me/Book - https://www.amazon.co.uk/Global-Discord-Values-Power-Fractured/dp/0691229317/ref=nodl_?dplnkId=3426bdbe-6afd-42ab-8c93-2c0288832a5aWTFinance - Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

The history of international politics since 1945. The role of values in the global economy. The future of America's relationship with China. All three of these would be ambitious topics for a work of political economy. But combining them? That's not for the faint of heart. However, that's exactly what Sir Paul Tucker has done in his new book, “Global Discord: Values and Power in a Fractured World Order”. Tucker is a former central banker, and a current research fellow at Harvard's Kennedy School of Government. In this episode, Mark Blyth talks about the book with Paul and political economist Aditi Sahasrabudde. Learn more about and purchase “Global Discord: Values and Power in a Fractured World Order”Watch Sir Paul Tucker's recent talk at the Rhodes CenterLearn more about the Watson Institute's other podcasts

April 6, 2023 Hoover Institution | Stanford University A Hoover History Working Group Seminar with Sir Paul Tucker. Paul Tucker will be sharing his new book, Global Discord: Values and Power in a Fractured World Order, which considers the geopolitics and legitimacy of the international economic and legal system. The book develops an analysis of the history and future of the international order from the perspective of incentives-values compatibility, that is, the connection between self-enforcing equilibria and history-dependent legitimation principles. Using this framework, the book identifies vulnerabilities and design flaws in today's international monetary order, trade system, investment order, and international financial system. April 6, 2023 Hoover Institution | Stanford University A Hoover History Working Group Seminar with Sir Paul Tucker. Paul Tucker will be sharing his new book, Global Discord: Values and Power in a Fractured World Order, which considers the geopolitics and legitimacy of the international economic and legal system. The book develops an analysis of the history and future of the international order from the perspective of incentives-values compatibility, that is, the connection between self-enforcing equilibria and history-dependent legitimation principles. Using this framework, the book identifies vulnerabilities and design flaws in today's international monetary order, trade system, investment order, and international financial system. ABOUT THE SPEAKER Sir Paul Tucker is a Research Fellow of the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School. He was formerly the Deputy Governor of the Bank of England, sitting on its monetary policy, financial stability, and prudential policy committees. Internationally, he was a member of the G20 Financial Stability Board, chairing its group on resolving too-big-to-fail groups; and a director of the Bank for International Settlements, chairing its Committee on Payment and Settlement Systems. He was knighted in 2014. He is the author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State (2018), which charts how the extraordinary power of unelected central bankers and regulators needs to be structured and checked in the interest of democratic legitimacy. His other activities include being a director at Swiss Re, president of the UK's National Institute for Economic and Social Research, a senior fellow at the Minda de Gunzburg Center for European Studies at Harvard, a member of the advisory board of the Yale Program on Financial Stability, and a governor of the Ditchley Foundation.

Sir Paul Tucker, research fellow at The Harvard Kennedy School and former deputy governor of The Bank of England, joins Forward Guidance to discuss ideas from his latest book, “Global Discord: Values And Power In A Fractured World Order.”  Tucker tells Jack Farley that China's growing economic might and rejection of liberal values poses a challenge to the U.S.' role as global hegemon, and he details ways to reinvigorate international cooperation during the current period of geopolitical strife. Tucker shares his views on the recent turmoil in the banking system, weighing on Silicon Valley Bank, Credit Suisse, and the acute need for bank resolution that can maintain financial stability while winding down ailing banks. Tucker and Farley also discuss concepts such as the Triffin Dilemma, the offshore (“Eurodollar”) dollar system, and central banks' role as lenders of last resort.  __ “Global Discord” from Princeton Press: https://press.princeton.edu/books/hardcover/9780691229317/global-discord Global Discord on Amazon: https://www.amazon.com/Global-Discord-Values-Power-Fractured/dp/0691229317 __ About Paul Tucker: http://paultucker.me/resources/ About Tucker's work at The Harvard Kennedy School: https://www.hks.harvard.edu/centers/mrcbg/about/fellows/research-fellows#sir_paul_tucker More about today's guest: For over thirty years, Sir Paul Tucker was a central banker, and a member of the Bank of England's Monetary Policy Committee from 2002. He was Deputy Governor from 2009 to late 2013, including serving on the Financial Policy Committee (vice chair) and Prudential Regulatory Authority Board (vice chair). He was knighted by Britain in 2014 for his services to central banking. Internationally, he was a member of the steering committee of the G20 Financial Stability Board, and chaired its Committee on the Resolution of Cross-Border Banks to solve “too big to fail”. Tucker was a member of the board of directors of the Bank for International Settlements, and was chair of the Basel Committee for Payment and Settlement Systems from April 2012. After leaving central banking, Tucker was chair of the Systemic Risk Council from December 2015 to August 2021. He now writes at the intersection of political economy and political philosophy as research fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government. In addition to “Global Discord,” Tucker is also the author of “ Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State” (2018). __ Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Intro (00:55) The Rise Of China Will Have Immense Consequences On A Global Scale (04:44) Shortcomings of Trade Policy and Enforcement (10:41) Downsides of U.S.' Trade Deficit (20:18) The Bretton Woods Regime (21:59) The Triffin Dilemma (26:32) The Eurodollar System (27:31) The Fed's Swap Lines In 2008 (28:49) Importance of Multi-Disciplinary Understanding For Policymakers (31:17) The Debt Ceiling (21:27) Thucydides' Trap (25:57) The Contest Between China and The U.S. Is "Everywhere" (39:26) Document 9 of The Chinese Communist Party (45:29) Inflation (49:37) Regional Bank Failure In The U.S. (55:43) The Takeover Of Credit Suisse By UBS (01:02:49) Defining A "Bailout" As A Use Of Taxpayer Money (01:07:09) Bagehot's Dictum (01:15:31) Credit Suisse Contingent Convertible ("CoCo") Bonds (01:17:55) Tying Geopolitical And Banking Together __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In Episode 297 of Hidden Forces, Demetri Kofinas speaks with the former Deputy Governor of the Bank of England, Sir Paul Tucker. During his time at the BoE, Sir Paul sat on the bank's monetary policy, financial stability, and prudential policy committees. He was a member of the G20 Financial Stability Board and a director of the Bank for International Settlements, which means he has worked at the highest levels of some of the most important policy-making bodies and research institutions in the world. What prompted today's conversation was the recent publication of Paul's book “Global Discord: Values and Power in a Fractured World.” The book deals with the incredibly important but rarely discussed subject of legitimacy and where it intersects with the world of geopolitics. How to maintain this legitimacy while navigating a change in the balance of power may be the most important question that any policymaker or politician can try and answer. It blurs the boundaries between policy fields that we are used to thinking about in isolated terms—monetary policy, the environment, trade, even war and peace—and forces us to think more concretely about our political values and our common identities. This is part of a larger story that Demetri has been trying to tell since the earliest days of the podcast. It's the story of what has been happening to us in Western countries and how we arrived at this state of affairs where our societies have become more politically and culturally divided, where our financial systems have become less responsive to the real needs of our economies, and where the international security environment has become more precarious than it has ever been in the living memories of most people. Today's conversation is meant to not only advance this story but to also advance a framework for understanding the changing world that we are living in. It is also meant to provide policymakers, business leaders, investors, and everyday citizens with a framework that they can use to navigate this changing world. You can subscribe to our premium content and gain access to our premium feed, episode transcripts, and Key Takeaway at HiddenForces.io/subscribe. If you want to join in on the conversation and become a member of the Hidden Forces genius community, which includes Q&A calls with guests, access to special research and analysis, in-person events, and dinners, you can also do that on our subscriber page. If you still have questions, feel free to email info@hiddenforces.io, and Demetri or someone else from our team will get right back to you. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple Podcasts | YouTube | Spotify | Stitcher | SoundCloud | CastBox | RSS Feed Write us a review on Apple Podcasts & Spotify Subscribe to our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at https://hiddenforces.io Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 02/06/2023

In the final episode on Britain's 1992 currency crisis, Neil and Jonathan look at the consequences of Black Wednesday with Jonathan Portes, Sir Paul Tucker, both of whom had ringside seats in the Treasury and Bank of England respectively, and economic historian Duncan Weldon.Presented by Jonathan Ford and Neil Collins.With Duncan Weldon and Jonathan Portes.Produced and edited by Nick Hilton for Podot.Additional editing by Ewan Cameron.Sponsored by Briefcase.News Hosted on Acast. See acast.com/privacy for more information.

In the second of our three-part series on Black Wednesday, the sterling crisis that drove Britain out of Europe's Exchange Rate Mechanism in the autumn of 1992, Neil and Jonathan look back on the events of the day itself with Sir Paul Tucker, who watched the mounting chaos from the Bank of England.Presented by Jonathan Ford and Neil Collins.With Sir Paul Tucker.Produced and edited by Nick for Podot.Additional editing by Ewan Cameron.Sponsored by Briefcase.News Hosted on Acast. See acast.com/privacy for more information.

On 16 September 1992, after an "extremely difficult and turbulent day", sterling was driven out of the Exchange Rate Mechanism, shattering the central economic policy of John Major's government and arguably setting Britain on a path to the fringes of, and ultimately the exit from, the European Union. In the first of a three-part series, Neil and Jonathan look back on the run up to the crisis with Jonathan Portes, Sir Paul Tucker, both of whom had ringside seats in the Treasury and Bank of England respectively, and economic historian Duncan Weldon.Presented by Jonathan Ford and Neil Collins.With Sir Paul Tucker, Jonathan Portes, and Duncan Weldon.Produced and edited by Nick Hilton for Podot.Additional editing by Ewan Cameron. Hosted on Acast. See acast.com/privacy for more information.

In this episode of BM Talks we are joined by Sir Paul Tucker who reveals: Why central banks are struggling to communicate their actionsWhat QE is doing needs to be examinedHow QE works must be better explainedDebt needs to be termed outHow Shadow Banks remain a significant risk to the marketHow fiscal policy can coordinate but not dominate monetary policy"We should be relying on the central banks to do what they definitely can do and using the fiscal authority to do something that they can more certainly do than the central bank, which is to get spending going" "Some MPC members now talk as if QE is mainly a signalling device. If they do, then their votes for the scale of QE are completely inexplicable" "The extraordinary "Non-QE" QE in March.... It's pretty hard to make sense of the March and April interventions... without thinking that this is price support"  

The FT News Briefing is a rundown of the global business stories you need to know for the coming day, from the newsroom of the Financial Times. If you enjoy it, subscribe to the FT News Briefing wherever you get your podcasts, or listen at FT.com/newsbriefing.Friday, March 20Republicans 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. See acast.com/privacy for privacy and opt-out information.

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. See acast.com/privacy for privacy and opt-out information.

January 2020 featuring Alex Nowrasteh, Andrew C. Forrester, Caleb O. Brown, Sen. Rand Paul, Sir Paul Tucker, Leszek Balcerowicz, Keith E. Whittington See acast.com/privacy for privacy and opt-out information.

The Federal Reserve is nominally independent, but the enormous pressure often aimed at Fed chairs past indicates that it's not that simple. Sir Paul Tucker is author of Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. See acast.com/privacy for privacy and opt-out information.

The US Federal Reserve’s sharp pivot toward easing amid substantial White House pressure has raised concerns about central bank independence, as have developments in other advanced and emerging market economies alike. How worried we should be about this threat—and its implications for policy, the economy, and markets—is Top of Mind. In this episode, Goldman Sachs Research’s Allison Nathan interviews former central bankers Donald Kohn and Sir Paul Tucker who explain why central bank independence is critical to maintaining price and financial stability—even today when too little, rather than too much, inflation is the main problem. But while Kohn is concerned that Trump’s overt pressure could undermine Fed credibility, Tucker worries more that over-reliance on central banks since the GFC has left them vulnerable to politicization. Nathan also speaks with the firm’s chief economist Jan Hatzius who does not believe the Fed has responded directly to pressure from the White House, but does think that political pressure could already be influencing Fed policy through indirect channels such as bond market pricing. That said, Hatzius argues this in itself shouldn’t inflict too much harm on the economy unless inflationary pressures rise materially.

Watch accompanying talk at the Watson Institute at Brown University: [https://youtu.be/R-Dxrs7dj0w] Central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. They pull the regulatory and financial levers of our economic well-being, yet unlike democratically elected leaders, their power does not come directly from the people. Unelected Power [https://press.princeton.edu/titles/11240.html] lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens. Paul Tucker [https://ces.fas.harvard.edu/people/001970-paul-tucker] draws on a wealth of personal experience from his many years in domestic and international policymaking to tackle the big issues raised by unelected power, and enriches his discussion with examples from the United States, Britain, France, Germany, and the European Union. Blending economics, political theory, and public law, Tucker explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. He explains why the solution must fit with how real-world government is structured, and why technocrats and their political overseers need incentives to make the system work as intended. Tucker explains how the regulatory state need not be a fourth branch of government free to steer by its own lights, and how central bankers can emulate the best of judicial self-restraint and become models of dispersed power. Like it or not, unelected power has become a hallmark of modern government. This critically important book shows how to harness it to the people's purposes. Sir Paul Tucker is chair of the Systemic Risk Council. He is a research fellow at the Harvard Kennedy School, and the author of Unelected Power, published in 2018 by Princeton University Press. Previously, he was Deputy Governor at the Bank of England, sitting on its monetary policy, financial stability, and prudential policy committees. Internationally, he was a member of the G20 Financial Stability Board, leading its work on too big to fail; a director of the Bank for International Settlements, and chair of its Committee for Payment and Settlement Systems. His other activities include being a director at Swiss Re, a senior fellow at the Harvard Center for European Studies, a Visiting Fellow of Nuffield College Oxford, and a Governor of the Ditchley Foundation. You can read a transcript of this episode here: [https://drive.google.com/file/d/17pQ8eWNLgLgqqowwVhrXCuIRmLal9JQd/view?usp=sharing]

This is the most important topic for our democracy. What is the constitutional position of regulators? Are they a 4th branch of the State or subsidiary to the existing 3 (executive, legislature, law)? Amazingly no-one knows and modern constitutional law textbooks make no mention. Is the spirit of Magna Carta which set in train the restraint of […]

The Institute for Government was delighted to welcome Paul Tucker, author of Unelected Power, for an in conversation event with Bronwen Maddox, Director of the Institute for Government. They discussed key themes from the book, including how we can ensure central bankers and other unelected policy makers remain stewards of the common good. Sir Paul Tucker is a Fellow at the Harvard Kennedy School and Chair of the Systemic Risk Council. For over thirty years, he was a central banker and regulator at the Bank of England, and the Bank for International Settlements.

How President Trump turned his back on the G7 summit joint agreement. Sir Paul Tucker, former Deputy Governor of the Bank of England, tells us when power should be delegated to technocrats. And can the solar industry survive without subsidies? See acast.com/privacy for privacy and opt-out information.

How President Trump turned his back on the G7 summit joint agreement. Sir Paul Tucker, former Deputy Governor of the Bank of England, tells us when power should be delegated to technocrats. And can the solar industry survive without subsidies? See acast.com/privacy for privacy and opt-out information.

Sir Paul Tucker, chair of the Systemic Risk Council and former deputy governor of the Bank of England, talks to Paul Adamson about his new book 'Unelected Power: the Quest for Legitimacy in Central Banking and the Regulatory State'.

Sir Paul Tucker, chair of the Systemic Risk Council and former deputy governor of the Bank of England, talks to Paul Adamson about his new book 'Unelected Power: the Quest for Legitimacy in Central Banking and the Regulatory State'.

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. Music by Podington Bear. See acast.com/privacy for privacy and opt-out information.

This seminar was given by Sir Paul Tucker, chair of the Systemic Risk Council. It was held on March 3, 2016 as part of the Mossavar-Rahmani Center for Business & Government’s Business & Government Seminar Series.