Governor of the Banque de France since 2015, stepping down in June 2026. He has chaired the board of the Bank for International Settlements since 2022. He launched the Network for Greening the Financial System from the Banque de France in 2017 with eight members; it now has 152.
He has argued that central-bank independence rests on three legs—a clear and measurable mandate (such as the 2% inflation target), autonomy over the means to achieve it, and democratic accountability for results—and that attacking central-bank independence while claiming to fight inflation is "schizophrenic". He champions "pragmatic plurilateralism": coalitions of the willing on specific issues, rather than universalist multilateralism.
The problem with this country is that there is no death penalty for incompetence.