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Rosengren: Monetary, Fiscal, and Financial Stability Policy Tools: Are We Equipped for the Next Recession?
Speaking in Washington, D.C., Boston Fed President Eric Rosengren suggested that policymakers should view financial stability tools more holistically, and assess the ability to utilize fiscal, monetary, and financial stability policy tools to respond to a hypothetical adverse shock. Noting that the last financial crisis underscored the role financial instability can play in disrupting the economy and slowing its recovery, Rosengren said that now is the time to assess and strengthen the various policy tools available to respond to an adverse shock. Unfortunately, Rosengren said, rather than building sufficient ... (full story)