MiB: Invoice Dudley, NY Fed Chief

February 18, 2024

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This week, we converse with Invoice Dudley, former president and chief govt officer of the Federal Reserve Financial institution of New York, the place he additionally served as vice chairman and a everlasting member of the Federal Open Market Committee. He was govt vice chairman of the Markets Group on the New York Fed, the place he additionally managed the System Open Market Account. Beforehand, he was chief US economist at Goldman Sachs (the agency’s first) in addition to a companion and managing director. He’s the chair of the Bretton Woods Committee, and Chairman of the Committee on the International Monetary System of the Financial institution for Worldwide Settlements.

Dudley explains how he turned President of the NY Fed in January 2009 — proper within the coronary heart of the GFC. He guided the NYFed in offering assist to monetary markets and administering “stress assessments” to banks — at a time when banks like Citi and Morgan Stanley have been beneath huge strain — a really giant job within the Spring of 2009. He describes that as a turning level within the banking disaster.

A listing of his favourite books is right here; A transcript of our dialog is obtainable right here Tuesday.

You possibly can stream and obtain our full dialog, together with any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts in your favourite pod hosts will be discovered right here.

Make sure to try our Masters in Enterprise subsequent week with Andrew Slimmon, Managing Director at Morgan Stanley Funding Administration, the place he leads the Utilized Fairness Advisors group. His Slimmon’s TAKE is a well-liked and extensively learn commentary amongst Morgan Stanley advisors and on The Avenue as effectively. He additionally serves as Senior Portfolio Supervisor for all lengthy fairness methods and is a member of Morgan Stanley Wealth Administration’s International Funding Committee.