The Dodd-Frank Act makes significant headway toward the goal of promoting U.S. financial stability, but as the Act itself indicates, there is more to be done.1 And given the Federal Reserve System’s part in this mission, I believe it is incumbent on Fed leaders to point out ways in which Congress could potentially act to make the financial system even more stable.
It is also clear that there is no room for differences on the issue and only our collective efforts can address the challenge of climate change. 4. Having said that, the question that emerges is what would be the role of different institutions in achieving these objectives?