16  Among the steps taken by the Federal Reserve to increase transparency in recent years include immediate announcement of changes in the target for the policy rate, the issuance of a “ balance of risks” statement, and the publication of minutes and (with a five-year lag) the transcripts of each FOMC meeting.
Noteworthy also are your initiatives aimed at spearheading development programs and activities directed towards the active support of good governance and other related programs for nation building. Let me also take this opportunity to encourage you to continue to face with vigor and passion the challenges that we all have to face in the rapidly changing supervisory and regulatory landscape.