But just as we currently experience a dual crisis – an economic and financial crisis – our response should also be of a dual nature: we should do what is necessary to support economic recovery, while at the same time being mindful of pursuing a credible and sustainable exit strategy from the current extraordinary policy interventions, once conditions normalise again.
Finally, nations seeking to replicate the growth experience of the recent past in the United States should recognize that the current expansion is built, in part, on an underpinning of a sound financial system, including both healthy institutions and well-functioning  BIS Review 31/2000  4  capital markets, as well as solid supervision and regulation.