It is thus important to understand the evolution of the financial turmoil in Europe, the European policy response, and the implications for the United States. After presenting some views on these subjects, I will describe the action taken by the Federal Reserve last week in support of efforts to contain the crisis.
It’s forward-looking economic policy that sets the course for sustainable growth. BIS central bankers’ speeches  7  Thank you for your attention. 8  BIS central bankers’ speeches