This collection and analysis of financial-sector data should allow regulators to see more of the financial landscape and better equip them to identify systemic risks and other emerging threats. To digress for a moment, it’s interesting that the United States isn’t the only jurisdiction that has recently created a new institutional structure to implement macroprudential policies.
The progress in lowering trade barriers since World War II marks the triumph of putting an important idea into practice - that international trade benefits all nations. Indeed, in every nation, those benefits are shared by people spread across quite different income brackets. The pity is that this idea has been well known in the economics profession for the two past centuries.