Boston Fed conference lays bare uncertainty over macro-prudential policy
Central bankers, academics concerned over theoretical and practical barriers
Policy-makers in the US are "a long way" from being able to use macro-prudential tools successfully, New York Fed president William Dudley warned last week – speaking at a Boston Fed conference that highlighted how much uncertainty persists in this nascent policy field.
Dudley raised concerns over the lack of a "well-defined framework" for identifying imbalances and selecting the right macro-prudential tool in response, as well as the "fragmented" regulatory structure in the US.
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