Former Federal Reserve Chairman Paul Volcker talks about supervision of the global monetary system and the outlook for his namesake rule designed to rein in banks' proprietary trading.
Volcker, speaking with Bloomberg Television's Robyn Meredith on the sidelines of the Asia Global Dialogue in Hong Kong, also discusses the European sovereign debt crisis. (Source: Bloomberg)
00:00 Need for Volcker rule; global economy 00:58 Euro; Europe crisis and policy response 04:50 CFTC; U.S. banks' influence over policy 05:38 Volcker rule is "going to be effective." 05:55 Bank CEOs on regional Fed boards 07:22 JPMorgan's trading loss, regulatory response 07:51 Bank risk management, "speculative activity" 11:15 Need for global monetary system overhaul 12:32 U.S. savings rate; China's economy 14:02 Fed policy; U.S. Treasury yields, economy
Running Time: 16:01