151. Lessons Learned from the Financial Crisis – Federal Reserve Bank of New York
July 7, 2009 § Leave a comment
Note there is no reference to pain, foreclosures, lost jobs, as metrics to learn from.
William C. Dudley, President and Chief Executive Officer
Remarks at the Eighth Annual BIS Conference,
In assessing the lessons of the past two years, I will focus on five broad themes that are interrelated:
Interconnectedness of the financial system
System dynamics—How does the system respond to shocks?
Incentives—Can we improve outcomes by changing incentives?
How should central banks respond to asset bubbles?