Paul Volcker
Central Banking Awards: deadline for entries fast approaching
Entries for the next round of Central Banking’s awards close in two weeks; we take a look back at some notable past winners
“What would Allan say?”
Central Banking Publications founder Robert Pringle finds pearls of wisdom in his email correspondence with the late Allan Meltzer
Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
John Taylor writes about the extraordinary life of a pioneering economist whose lifelong work defied traditional rules – but one who strongly advocated them for central banks
Kohn worried about weight of expectations on Federal Reserve
The weight of expectations on the US Fed may be too high; the US is not as well placed as the UK to tackle another major crisis, says the former Fed vice-chair
Former Fed vice-chair Kohn on populism, top central bankers
Donald Kohn speaks to Christopher Jeffery about his fears for the Fed amid mounting populism, why he has few policy regrets and his experiences working with some of the world’s top central bankers
Volcker fights back as prop-trading ban comes under attack
Former Fed chair tells Risk.net that calls for total overhaul of eponymous rule are misplaced
Lifetime achievement award: Donald Kohn
Donald Kohn’s objectivity, intelligence, humour, tireless energy and iron determination to get the job done epitomise the role of a dedicated public servant. He serves as an inspiration to others
J Dewey Daane, 1918–2016
Former Fed governor and adviser to the International Monetary Fund played key role in founding of the Central Bank of Paraguay
Towards a more stable monetary world order
A global network of independent central banks could act as a manager of expectations for asset and foreign exchange prices to reduce the burden of future crises, argues David Harrison
Tucker to succeed Bair as Systemic Risk Council chair
Ex-Bank of England deputy governor Paul Tucker to chair private sector group pushing for ‘strong and simple reforms’ to financial system; succeeds former FDIC chair Sheila Bair
Fischer laments lack of coordination between US regulators
Fed vice-chair says most countries manage to supervise their financial systems in a more cooperative manner than in the US, but he holds little hope for change in the near future
Volcker proposes new regulatory structure with Federal Reserve at its heart
The Volcker Alliance sets out proposals for a new regulatory structure in the US that seeks to address the ‘fragmentation, overlaps and glaring gaps’ in the current system
Book notes: Deliberating American Monetary Policy, by Cheryl Schonhardt-Bailey
Using recordings of meetings of not only the FOMC but also of the House Financial Services Committee and the Senate Banking Committee, the book tries to understand how monetary policy is decided
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
De Larosière decries world monetary ‘anti-system’
Central bankers need to work together to identify and address macro-economic imbalances; system of co-ordinated currency boards could help absent functioning monetary system, says former IMF chief
Paul Volcker on inflation, QE exit and monetary system flaws
Paul Volcker speaks with Robert Pringle about his experiences in defeating inflation, responses to the current financial crisis, QE exit and flawed discipline in the international monetary system.
Volcker perplexed by Fed taper criticism
Former Fed chairman tells Central Banking Awards audience that central banks are ‘promising more than they can do’ and taking away ‘the punchbowl in time’ is Janet Yellen’s ‘big test’
Robert Pringle’s Viewpoint: Storm signals over world money
Leading financial statesmen deplore governments’ neglect of the international monetary system
Robert Pringle's Viewpoint: The eurozone’s unfinished business
Economic adjustment and financial sector reform must go hand in hand – with the ECB due to play a central role
Liikanen says 'Barnier rule' will allow for international regulatory convergence
Finland governor whose recommendations formed the basis of European bank reform notes that commissioner Barnier's proposals are closer to the 'Volcker rule'
Lifetime achievement award: Paul Volcker
Paul Volcker’s record of achievement in difficult circumstances continues to provide an inspiration to central bankers throughout the world
The winners of the inaugural Central Banking awards
Paul Volcker, Mario Draghi, People's Bank of China, Central Bank of Colombia, Sveriges Riksbank, Bank of Spain, BlackRock, Northern Trust, VocaLink and OpenLink win inaugural Central Banking awards
Robert Pringle’s Viewpoint: Janet Yellen - that honeymoon feeling
Comparing what the new Fed chief should do with what is likely
New York Fed's Dudley lists presidential attributes
The president of the New York Fed need not be an economist, says Dudley; they must, however, be open-minded, pragmatic and have a strong research team behind them