MiB: Bill Dudley, NY Fed Chief – The Big Picture

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This week, we speak with Bill Dudley, former president and chief executive officer of the Federal Reserve Bank of New York, where he also served as vice chairman and a permanent member of the Federal Open Market Committee. He was executive vice president of the Markets Group at the New York Fed, where he also managed the System Open Market Account. Previously, he was chief US economist at Goldman Sachs (the firm’s first) as well as a partner and managing director. He is the chair of the Bretton Woods Committee, and Chairman of the Committee on the Global Financial System of the Bank for International Settlements.

Dudley explains how he became President of the NY Fed in January 2009 — right in the heart of the GFC. He guided the NYFed in providing support to financial markets and administering “stress tests” to banks — at a time when banks like Citi and Morgan Stanley were under enormous pressure — a very large job in the Spring of 2009. He describes that as a turning point in the banking crisis.

A list of his favorite books is here; A transcript of our conversation is available here Tuesday.

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.

Be sure to check out our Masters in Business next week with Andrew Slimmon, Managing Director at Morgan Stanley Investment Management, where he leads the Applied Equity Advisors team. His Slimmon’s TAKE is a popular and widely read commentary among Morgan Stanley advisors and on The Street as well. He also serves as Senior Portfolio Manager for all long equity strategies and is a member of Morgan Stanley Wealth Management’s Global Investment Committee.