How can we avoid a similar crisis in the future? As we at the Federal Reserve and others work to build on the progress already made toward securing a sustained economic recovery with price stability, we must also continue to address the weaknesses that led to the current crisis.
Today’s challenges call for a macroprudential policy which is alert and capable. 6  Conclusion  Let me conclude with a very brief outlook. At the current stage, good macroprudential regulation is more about basics such as defining properly the objective, compiling the efficient toolkit and setting up the competent institutions. One day, this part of the job will be done.