Jerome H Powell: Financial innovation - a world in transition Speech by Mr Jerome H Powell, Member of the Board of Governors of the Federal Reserve System, at the 41st Annual Central Banking Seminar, sponsored by the Federal Reserve Bank of New York, New York City, 18 October 207.
For general panic is unwarranted. And there is no reason for lapsing into an apocalyptic mood. A dispassionate analysis shows that there are a number of factors stabilising the world economy. They certainly include the high degree of monetary stability world-wide. They also include the favourable overall performance in the future euro area.