And, finally, policymakers should respond in a systematic manner to changes in economic conditions in order to help financial market participants and others better understand how policy is likely to respond over time to current and future events, thereby influencing expectations in a way that promotes economic stability.
I suspect that the answer is not more rules, for it is difficult to write rules for new products, especially if we do not know what those new products will be, and the rules themselves can breed distortions.