In a conversation with Yale SOM’s Andrew Metrick, Paul Tucker, chair of the Systemic Risk Council and former deputy governor for financial stability at the Bank of England, says that financial markets are still facing serious stability risks.
Paul Tucker, a former deputy governor of the Bank of England, says that giving central bankers too much power can lead to dangerous unintended consequences.
Paul Tucker was one of the key players at the Bank of England during the financial crisis of 2008-09. He says that the actions of policymakers and regulators since that time have built a more resilient financial system. But he also sees big challenges ahead that will require regulators to be more nimble and flexible than they’ve ever been before.