I am pleased to be here in Detroit to be part of an ongoing and very important discussion about improving access to credit for small businesses. I would particularly like to thank the staff of the Federal Reserve Bank of Chicago and President Evans for organizing this event.
Thereafter, I will focus on the current state of the international financial architecture and flesh out how it has been adapting to the changing global economic environment. 1. Major global economic trends – what are the issues? One important structural feature of today’s global economy is the interdependence of countries as they become more and more integrated into the world economy.