New York Former United States Federal Reserve chairman Paul Volcker has launched a scathing attack on what he says is a dysfunctional political climate in Washington that has been hampering much-needed financial reform.
He also warned central bankers that they risked damaging their credibility by propping up their economies, losing sight of price stability and giving in to political pressures.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
