I serve as chair of the Committee on Financial Stability, which was created to guide staff work and make recommendations to the Board.1 We develop a financial stability assessment four times per year that is discussed by the Board and the Federal Open Market Committee. We have also taken steps to ensure transparency and accountability.
9 Sondermann, D. (2016), “Towards more resilient economies: the role of well-functioning economic  structures”, Working Paper Series, No 1984, ECB, Frankfurt am Main, November. 10 For an early example of this view, see Gordon, R. (1996), “Macroeconomic Policy in the Presence of Structural  Maladjustment”, NBER Working Paper Series, No 5739, National Bureau of Economic Research, September. 11 Banerji, A. et al., op.