Last summer, when I accepted President Loretta Mester's invitation to speak at this conference, I thought it would be a good occasion to step back and assess where we stand in our post-crisis efforts to promote financial stability in the United States. This morning I will offer such an assessment. I will begin by reviewing what has been accomplished. Then I will suggest how to approach the work that remains--including both tackling continuing vulnerabilities to financial stability and rationalizing the measures that have already been taken. The Crisis and Its Aftermath To understand where we stand today, we should ... (full story)