Corpus ID: 158217508

Lael Brainard: An update on the Federal Reserve's financial stability agenda

@inproceedings{Brainard2018LaelBA,
  title={Lael Brainard: An update on the Federal Reserve's financial stability agenda},
  author={Lael S. Brainard},
  year={2018}
}
The primary focus of financial stability policy is tail risk (outcomes that are unlikely but severely damaging) as opposed to the modal outlook (the most likely path of the economy). The objective of financial stability policy is to lessen the likelihood and severity of a financial crisis. Guided by that objective, our financial stability work rests on four interdependent pillars: systematic analysis of financial vulnerabilities; standard prudential policies that safeguard the safety and… Expand
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