Jeremy C Stein: Overheating in credit markets – origins, measurement, and policy responses Speech by Mr Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System, at the “Restoring household financial stability after the Great Recession – why household balance sheets matter” research symposium, sponsored by the Federal Reserve Bank of St. Louis, St. Louis, Missouri, 7 February 2013.
*  *  *  Clearly detailed accompanying charts to this speech can be found at the end of the pdf document on the US Federal Reserve website. Thank you very much. It’s a pleasure to be here. The question I’d like to address today is this: What factors lead to overheating episodes in credit markets?