NY Fed's Geithner on risk management

In a speech on 'The changing face of risk management' given on 9 June, Timothy Geithner of the New York Fed said U.S. financial markets are well prepared for a gradual rise in official interest rates and should not be stressed when the Federal Reserve changes policy.

Geithner said markets had factored in a "gradual" rise in the official federal funds rate over the next two years.

"Financial markets have had some time to position themselves for an environment of higher interest rates and

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