Another team is dealing with the financial system of the future, and how to prepare for the changes expected in it. The team is formulating a strategy, the goal of which is to maintain financial stability while aligning the financial and regulatory system to the changing environment, enhancing competition, and implementing innovation.
5 This point is elaborated upon in Chair Powell’s 2022 Jackson Hole speech; see Powell (2022b). 3  -4in real time, to influence expected future economic conditions is a difficult task in the best of circumstances. It is all that much more difficult when the economy is experiencing a once-in-a-century disturbance of worldwide significance.