Poole on responding to financial crises

- Central Banking staff
- 17 Nov 2006

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In the speech 'Responding to financial crises: What role for the Fed?' given on 16 November William Poole of the Federal Reserve Bank of St. Louis said the Fed should play as limited a role as possible in a financial market crisis and took aim at Fannie Mae and Freddie Mac as a looming source of risk.

"What should the Fed do when financial instability strikes? In most cases, nothing," Poole told a monetary conference hosted by the Cato Institute.

"I believe that supervisory insight is in pretty

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