Comments crossing the wires from Federal Reserve vice chair Stanley Fischer. The comments are from the text of a speech he to deliver in Cambridge, Massachusetts (the Martin Feldstein Lecture at the National Bureau of Economic Research):

  • Says adding a financial stability mandate would contribute to increasing financial and economic stability
  • US is making significant progress in strengthening the financial system, reducing the odds of the next crises

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“Reducing the odds” of the next crisis … and that’s a good thing, right?

:-D

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OK, what he actually said was “reducing the probability of future financial crises”. Yep, that’s better.

I’ll take off my pedant hat now.

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Here’s the full text: Financial Sector Reform: How Far Are We?