governor

Claire Jones

Mark Carney may be the first foreigner to become governor of the Bank of England in its 318-year history, but he is not the first to be approached.

Back in the 1960s, Harold Wilson’s Labour government wanted to replace Lord Cromer with the governor of the Reserve Australian central bank. This from David Kynaston’s The City of London: The History: 

Robin Harding

Binyamin Applebaum at the New York Times has a good piece today about who Mitt Romney might appoint as Federal Reserve chairman and what that might mean. His analysis is similar to that of Macro Advisers, and I don’t have much to add, save that I think Glenn Hubbard or Greg Mankiw are more likely choices than John Taylor.

It is worth considering, though, how a more hawkish Fed chairman would interact with the rest of the FOMC. The seven Fed governors at present are:

Term expires Age Notes
Elizabeth Duke 2012 60
Jerome Powell 2014 59
Sarah Raskin 2016 51
Jeremy Stein 2018 52
Ben Bernanke 2020 58 Chairman until Jan 2014
Daniel Tarullo 2022 59
Janet Yellen 2024 66 Vice chair until Oct 2014

 

Adam Thomson of the Financial Times writes about the political implications of Mexico’s newly nominated central bank governor 

Rumours are circulating that Mexico’s centre-right president wants a new central bank governor.

The speculation has gone down badly with bankers, who respect the incumbent, Guillermo Ortiz, and want him to remain in office while the country struggles with recession. Mr Ortiz, identified more with the opposition party, also chairs the board of the Bank for International Settlements, the central bank for central banks.