These include applications both for new legal entities and from existing entities seeking to extend their current authorisation. The applicants intend to sell directly to Irish customers or sell from Ireland into the European Union. The potential activities range from: banks; investment firms; trading venues; electronic money institutions; commercial insurance; and retail insurance.
Stabilizing growth and mitigating a downturn, of course, are aspects of the Federal Reserve’s mission. Monetary policy can be a powerful tool to achieve these ends, but, in truth, its powers are dwarfed by larger forces, such as the productivity of the American people and the strength of their finances.