*  *  Introduction: statistics, market information and Irving Fisher  It is a privilege for me to address this keynote speech before the distinguished members of the Irving Fisher Committee. I am particularly thrilled, since the name Irving Fisher strikes a chord in my heart. Irving Fisher is an iconic figure at Yale University, where I earned my doctorate.
I will now briefly address four of these priority areas – leaving out those dealing with SIFIs as another round table today is dedicated specifically to the regulation of SIFIs. a.  Basel framework  First, the crisis made painfully clear that banks’ equipment with capital and their liquidity positions were inadequate to withstand shocks to the financial system.