Up until the last several years, microprudential regulation would have come close to covering the entire field of prudential regulation. The financial crisis highlighted the need to supplement traditional microprudential regulation with a macroprudential approach oriented toward the well-being of the financial system as a whole.
Projections of the Federal Funds Rate Path Implied by Surveys and Market Quotes  Note: The path with zero term premium is estimated using overnight index swap quotes with a spline approach and a term premium of 0 basis points.