Does the Fed Have a Financial Stability Mandate?

Abstract: Governments around the world have devoted increasing attention to maintaining overall financial system stability. Central banks play strong roles in domestic financial stability policy, but the full scopes of their financial stability mandates are ambiguous. The Federal Reserve appeared to embrace a stronger role in financial system stability starting in the late 1960s and accelerating with its unprecedented actions during the 2007?08 financial crisis. Questions remain, however, about the proper scope and design of a central bank?s financial stability mandate.

Keywords: central banks; financial stability;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Richmond Fed Economic Brief

Publication Date: 2017

Issue: June