The unfinished business of financial regulatory reform Let me now look forward. Although we have made the financial system safer, important work remains in each of the three areas I have highlighted: the basic bank regulatory apparatus, addressing the problems posed by SIFIs, and limiting risks in shadow banking and financial markets.
The decision At our last two policy decisions, the Governing Council said we would be assessing how tighter monetary policy is working to slow demand, how supply chains are evolving, and how inflation and inflation expectations are responding. These assessments, together with our revised forecast, were important inputs into our policy decision.