Paul Tucker is a 33-year veteran of the Bank of England where he served as both a member and deputy governor of the Monetary Policy Committee. Currently, Paul is a senior fellow at Harvard and a chair at the Systemic Risk Council. He has also recently authored a book, *Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State* and joins the show today to discuss talk about it. David and Paul also discuss central bank independence and justifications for the existence of a regulatory state as well as Paul's "principles for delegation" criteria. Transcript for the episode: https://www.mercatus.org/bridge/podcasts/03252019/paul-tucker-central-bank-independence-and-unelected-power Paul's website: http://paultucker.me/ Paul's Harvard University profile: https://ces.fas.harvard.edu/people/001970-paul-tucker Related Links: *Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State* by Paul Tucker https://press.princeton.edu/titles/11240.html David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth Chapters: 00:00:00-Intro 00:00:22-Skip Intro 01:02:26-Outro

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“What did the council decide on item 42?” — answered with the speaker and the moment.