Now I know that at times community involvement would be difficult, as you also have to juggle family and career but I encourage you to make the effort. I am sure that you will find it worthwhile.
This risk-management approach has been articulated by Chairman Greenspan for monetary policy, and it is equally applicable to a central bank’s decisions regarding crisis management, the topic I will focus on today.1 Crises are themselves tail events, and the policy response to them is focused on the possibility and cost should the outcome be especially adverse.