But as we continue to review and revisit the regulatory framework, I'd like to share a few thoughts about how the Federal Reserve can best fulfill its missions of furthering the safety and soundness of banks and promoting the stability of the financial system.
Specifically, I will discuss three topics that are more interconnected than they may appear: (1) Federal Reserve independence, (2) predictability in applications, and (3) tailoring of regulations and supervision. Federal Reserve Independence Most often, the independence of the Federal Reserve is discussed in terms of independence in the setting of monetary policy.