2  BIS Review 4/2009  Second, the notion of resilience to shocks, taking into account the fact that whatever the level of sustainability of a particular financial situation, we can never eliminate the occurrence of unpredictable shocks.
7 See Jerome H. Powell (2021), “Getting Back to a Strong Labor Market,” speech delivered at the Economic Club of New York (via webcast), February 10, https://www.federalreserve.gov/newsevents/speech/powell20210210a.htm. 8 See Board of Governors of the Federal Reserve System (2018), “Fiscal Agency Services,” webpage, https://www.federalreserve.gov/paymentsystems/fisagy_about.htm. -4The second form of interaction involves the Treasury and the Federal Reserve working together on certain macroeconomic policy issues.