The Federal Reserve's ability to draw on expertise from a range of disciplines  9  See Board of Governors of the Federal Reserve System, Division of Banking Supervision and Regulation and Division of Consumer and Community Affairs (2008), "Consolidated Supervision of Bank Holding Companies and the Combined U.S. Operations of Foreign Banking Organizations," Supervision and Regulation Letter SR 08-9/CA 08-12 (October 16).
Importantly, we can ensure that inflation remains low and stable so that uncertainty about the overall level of prices is not added to the list of things that the community has to worry about. Since November 2011, the Board of the Reserve Bank has lowered the cash rate six times, by a cumulative 1¾ percentage points.