Poole on maintaining financial stability

In a speech on 'The Fed's Role in Maintaining Financial Stability' William Poole of the Federal Reserve Bank of St. Louis said the US is fortunate that the Federal Reserve is generally effective in minimizing collateral damage from unpredictable shocks. But important item of unfinished business is to examine changes in government policy and market practice that might reduce the likelihood and severity of shocks in the first place, he added.

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