A member of the board of governors at the Federal Reserve said in a speech yesterday that it "might make sense to enlist monetary policy tools in pursuit of financial stability", when credit markets are in danger of overheating.
If credit markets start to overheat, the Fed may have to employ monetary policy tools alongside macro-prudential policies, according to Jeremy Stein, a member of the board of governors of the Federal Reserve System.
At an event held yesterday by the Federal Reserve Bank
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