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Assessing economic conditions and risks to financial stability: remarks at the Stern School of Business, Salomon Center for the Study of Financial Institutions, New York University, New York, New York, September 20, 2019
The stance of policy is already accommodative. The economic data suggest continued expansion. Risks to the economic outlook are of concern, to be sure. Responding to risks to the economic outlook with too much monetary accommodation entails costs, and thus introduces risks of its own ? one such risk is the potential buildup of financial instability.