Our institution was created with a mandate – price stability – but also with the tools to achieve that, so we don’t shy away from our responsibility. We do it. We are not hindered by the inaction of others. At the same time you also warn other policymakers that monetary policy will not solve the problems of low structural growth and unemployment.
16 Still, particularly with an audience half composed of corporate law 15  An MRA is a supervisory finding that the Federal Reserve communicates to the firm and requires remediation.