Our representatives are in frequent contact with various local associations, businesses, community groups, government officials, colleges, and universities to give and receive information and to exchange views on the economy and monetary policy. To supplement these contacts, my senior colleagues and I frequently travel across the country to talk to groups, like this, to respond to questions, and to listen to comments and concerns.
An important point here is the link between credit and market risk, and the fact that market prices can change sharply when key market participants pull out. In the proverbial “race for the door,” nearly everyone gets trampled. •  The last point I will note relates to the over-reliance by practitioners on quantitative tools.