But this is precisely the point at which policymakers must draw on the second quality: courage. For inaction is also a decision. When the effect of inaction would be to compromise the mandate conferred on the policymaker by the legislator, the decision not to act is a decision to fail.
Similarly, the Federal Reserve Bank of New York, and other regulatory bodies have met with major dealers to strengthen the clearing and settlement infrastructure for the credit derivatives markets. Conclusion Maintaining the stability of the financial system and containing the systemic risk that may arise in financial markets is central to the Federal Reserve’s mission.