Commentary Recent turmoil in the banking sector has focused attention on the role of central banks, both in economies and in bank supervision and control.  This will discuss central banks, like the U.S. Federal Reserve, and some of the tools they use to implement their policies, which can be opaque to the average person. First,…

ANKARA, Turkey—The Turkish lira hit record lows against the dollar Thursday after President Recep Tayyip Erdogan fired senior central bank officials, heightening concerns over the Turkish leader’s interference in the bank’s activities. Erdogan dismissed deputy central bank governors Semih Tumen and Ugur Namik Kucuk as well as Abdullah Yavas, a member of the bank’s monetary…