That may be the case in particular in periods of transition after a long period of disinflation or when monetary policy starts to change the interest rate cycle after a long period of low rates. The second view providing a broad explanation for the recent instability of asset price has been put forward by Raghuram Rajan (2005), 23 in a recent noted paper.
As central banks and supervisors, we have a responsibility to make sure that we can continue to keep the financial system stable and safe. We want no holes in the global financial safety net, however much it gets stretched and reshaped. To do this, we need the best and the brightest from all kinds of disciplines. We need people that see the bigger picture.