Based on this recognition, the Bank considers it important to make clearer its policy stance to persistently continue with powerful monetary easing toward achieving the price stability target.
Accountability is important not only for the usual reasons that apply in a democracy but also, in this case, because stress tests can only be effective when the public has confidence in the Fed’s evaluation of the capital adequacy of banks. In effect, stress tests are also a test of the Fed’s supervision of large banks.