Speech
The Last Resort in a Changing Landscape
Daly, Mary C. (2021-04-15)
Presentation to Money Marketeers of New York University Webinar, New York, New York, by Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco, Tuesday, April 15, 2021
Speech

Journal Article
The Last Resort in a Changing Landscape
Daly, Mary C. (2021-05-03)
As lender of last resort, the Federal Reserve plays a vital role in maintaining a sound and stable financial system. But the frequency and scale of Fed interventions following disruptions like the Global Financial Crisis and COVID-19 are concerning. As the country emerges from the pandemic, it’s time to focus on crafting more resilient policies, particularly by addressing Treasury market vulnerabilities and providing greater prudential oversight.
FRBSF Economic Letter , Volume 2021 , Issue 12 , Pages 01-07