Fed’s Tarullo draws on Crockett speech in outlining macro-prudential priorities
Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, outlined five areas current macro-prudential policy should be focusing on in a speech at Yale Law School on Friday.
Drawing on a "prescient" speech made by Andrew Crockett in 2000, who was then general manager of the Bank for International Settlements, Tarullo outlined five propositions.
Having paid tribute to Crockett's "foresight", Tarullo then proceeded to diverge from him in a number of ways. He argued that
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