Board of Governors of the Federal Reserve System

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response to developments that alter our economic outlook and the associated

pre-crisis era, activity in the federal funds market was largely interbank...pre-crisis. However, there is a risk that control will be more challenging

responses were evenly split between those indicating that it is important...responses and those that repeated their response to part A of this question

crisis, can lull both bankers and regulators into a state of complacency...response when issues are identified. Complacency is not always the 2 Notably

crisis. Industry observers and policymakers have asserted that the CRAs...crisis. Others have argued that CRAs' reduced conservatism was entirely

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crisis has hit with uneven force in various countries, and while local...crisis, sometimes big changes in asset values put the banks in trouble

crisis (Amromin et al., 2018). Financial regulators around the world continue...response to the reform, we find that many homebuyers make larger down

For release on delivery 5:50 p.m. EDT April 7, 2026 Economic Outlook and the Labor Market Remarks by Philip N. Jefferson Vice Chair Board of Governors