The Chairman of the Federal Reserve, Ben Bernanke, highlighted this not long ago. Thus, all central banks are faced with the challenge of timing the tightening of the extremely loose monetary policy currently in place, should any risks to price stability emerge.
Taking advantage of the Federal Reserve's nationwide presence, the twelve Reserve Banks have sponsored or co-sponsored more than 100 events related to foreclosures around the country since last summer, bringing together more than 10,000 lenders, counselors, community development specialists, and policymakers. A particular focus of the Fed's efforts has been the mitigation of the costs to communities of high rates of foreclosure.