For release on delivery 1:30 p.m. EST December 19, 2016  Commencement Remarks  by Janet L. Yellen Chair Board of Governors of the Federal Reserve System at University of Baltimore 2016 Midyear Commencement Baltimore, Maryland  December 19, 2016  Thank you, President Schmoke, for this award and for the opportunity to be here today to offer my congratulations to the members of the Class of 2016.
Notwithstanding announcements about the importance of coordination and cooperation in the design and development of crisis strategies, in practice, countries  BIS Review 129/2010  1  have proceeded to adopt policies that appear to be national in character. Strengthening multilateral coordination to mitigate global distortions remains a priority.