In any case, the Federal Reserve is responding actively to financial stability concerns through substantially expanded monitoring of emerging risks in the financial system, an approach to the supervision of financial firms that takes a more systemic perspective, and the ongoing implementation of reforms to make the financial system more transparent and resilient.
Thirdly, like most of you I have spent the majority of my time during the past four years seeking ways to overcome the global financial crisis and to establish a new system of financial regulation to prevent future crises. And so let me tell you now of one personal episode related to economic crisis management.