Bill Dudley joined the Federal Reserve on the eve of the 2008 financial crisis, following a 20-year career at Goldman Sachs – where he served as the firm’s chief U.S. economist for a decade. In his 11 years at the Fed, he played a key role in nursing America’s economy back to health. Serving first as manager of the Fed’s System Open Market Account, and then as CEO of the NY Fed and Vice-Chair of the Federal Open Market Committee, Dudley focused his efforts on the development of monetary policy and continued analysis of financial markets to drive a much-needed course correction. “We need to ensure that we have a resilient financial system,” Dudley told an audience in New York. “To that end, we must ensure that the safeguards put in place in response to the crisis are fully appreciated and respected.”
A champion for prudent regulation and supervision of globally systemic financial institutions, Dudley opposes rolling back the tougher liquidity and capital standards that emerged from the financial crisis. But he also notes that regulation and supervision, while necessary, are not sufficient. There is an important role for financial firms – namely to be well-managed. This, he says, includes taking steps to improve their cultures.
In his career at the NY Fed, Dudley worked very closely with Chairs Ben Bernanke, Janet Yellen, and Jay Powell. He took over as president and CEO of the New York Fed in January 2009 – the 10th in the bank’s history – once Timothy Geithner became U.S. Treasury Secretary.
Dudley’s tenure gave him a direct role in identifying the causes and consequences of the financial crisis, creating an effective response, and driving efforts to reform the financial system in the decade that followed. As Yellen said in a statement marking Dudley’s retirement from the Fed, “The American economy is stronger and the financial system safer because of his many thoughtful contributions.”
He is the Senior Advisor to the Griswold Center for Economic Policy Studies, Princeton University.
Today, Dudley explains the economic vulnerabilities that remain – building upon his career in financial markets and the lessons he has learned from the financial crisis. He offers authoritative analysis of the global macroeconomy, financial markets, and bank regulation.
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William Dudley’s Speech Topics
Navigating the Global Economy
As former president of the New York Fed and vice chairman of the Federal Open Market Committee for almost a decade, Dudley brings an experienced eye to trends in global economics. For more than 20 years, Dudley has had his hand on the pulse of the U.S. economy and global financial markets.
The Financial Crisis and the Aftermath
Dudley joined the Fed on the eve of the financial crisis and played a critical role in designing market interventions and nursing the U.S. economy and financial system back to health. Dudley is an advocate for a tough regime of regulation and supervision for globally systemic financial institutions. With an insider’s perspective and expertise, he reflects on the lessons learned and the effectiveness of the new regulatory regime.
Roadmapping the U.S. Federal Reserve System
Dudley served at the highest level within the Fed, working closely with Chairs Jay Powell, Janet Yellen and Ben Bernanke in the design and conduct of U.S. monetary policy. Combined with his insight and experience in financial markets, this gives him a unique perspective on U.S. monetary policy.