13  P. Tucker (2012), “Resolution – a progress report”, speech at the Institute for Law and Finance Conference, Frankfurt, 3 May. 6  BIS central bankers’ speeches
There may be numerous causes of this increased resilience. Among them, ongoing efforts to liberalize global trade have added flexibility to many aspects of our economy over time. Furthermore, a quarter-century of bipartisan deregulation has significantly reduced inflexibilities in our markets for energy, transportation, communication, and financial services.