Given how important robust payment and settlement systems are to financial stability, a good case can be made for granting the Federal Reserve explicit oversight authority for systemically important payment and settlement systems.
Bernanke emphasizes the need for Federal Reserve oversight on payment systems for financial stability.
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making derivatives safer is very important, part of solving Too Big to Fail and preventing another financial crisis.
As I have said many times, I think that fiscal policy is focusing a bit too much on the short run, and not enough on the long run.
It is also important, of course, for community banks to be well-capitalized so that they can continue to lend during difficult periods.
Right now our concern is that the Chinese currency policy is blocking what might be a more normal recovery process in the global economy, and it is to an extent hurting our recovery.
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