1/6  BIS central bankers' speeches  But at the same time as these measures were being deployed, two important regulatory changes took place which had profound implications for financial stability. The more resilient financial system in turn bolsters the ability of monetary policy to achieve its price stability objective.
Finally, in assessing our balance sheet policy, it is important to point out that the Fed remains entirely focused on meeting its statutory dual-mandate objectives of maximum employment and price stability. The normalization of the balance sheet is not a competing goal.