Fed's Ferguson warns over shock potential

U.S. Federal Reserve Vice Chairman Roger Ferguson on Saturday 22 April cautioned that the tranquillity of financial markets in recent years does not mean that they were not vulnerable to more severe shocks.

"Although financial systems have proven resilient to quite significant market adjustments or cyclical developments in recent years, the possibility remains of more severe shocks accompanied by deterioration in market liquidity," Ferguson told the IMF's steering committee as he reported on a