I think it is, to me, very clear that financial institutions are much stronger, safer, sounder, more resilient, better capitalized, more liquidity, less risky, and all of those things than they were before the financial crisis and Dodd-Frank certainly gets some of the credit for that.
Powell asserts that Dodd-Frank has strengthened financial institutions post-crisis.
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Part of that is due to the start-stop nature of the tariffs that have been introduced.
without the ability to pay interest on reserves, the Fed would lose control over rates
What keeps me awake at night is how do we get that done? I want to hand over to my successor an economy in good shape, and so do all of my colleagues, that's all we ever want.
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