Linkages between monetary and regulatory policy: lessons from the crisis

Janet Yellen

FRBSF Economic Letter, 2009, issue nov23

Abstract: The crisis of the past two years has underscored the connections between monetary policy, which seeks to foster maximum employment and price stability, and regulatory policy, which works to protect the financial system. The two domains can't be regarded as separate. Researchers are currently examining ways in which monetary policy may play a role in managing systemic risk and regulatory policy may serve to promote macroeconomic goals. The following is adapted from a presentation made by the president and CEO of the Federal Reserve Bank of San Francisco to the Institute of Regulation & Risk, North Asia, in Hong Kong on November 17, 2009.

Keywords: Monetary policy; Financial market regulatory reform; Bank supervision (search for similar items in EconPapers)
Date: 2009
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