Fischer cautions against complacency

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The vice-chairman of the US Federal Reserve Board said yesterday (June 27) it would be “foolish” for policymakers to believe they have eliminated all the risks following the 2008 financial crisis.

Speaking at an International Monetary Fund workshop on financial surveillance and communication, Stanley Fischer said there was “no doubt” the soundness and resilience of the global financial system had improved.

“We have a better capitalised and more liquid banking system, less run-prone money

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