30 Moreover, in the specific case of the euro area, monetary policy is particularly blunt instrument to address national risks to financial stability. Rather, the view that with objectives for both price stability and financial stability policy makers need two (sets of) tools has gained widespread acceptance.
I enjoyed being a community banker, and I hope you know I’ve enjoyed working closely with all of you as a banking commissioner, and I now look forward to building a stronger partnership between all of you and the Federal Reserve Board. Thank you for the opportunity to speak to you today.