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Monitoring the Triggers for Financial Distress

On Wednesday, The Federal Reserve released its first Financial Stability Report that assesses the resilience of the U.S. financial system and the triggers that can impact its stability. Speaking about this report at a forum by The Economic Club of New York, Jerome Powell, the Chairman of the Fed revealed the findings of the report.

"Today marks the publication of the Board of Governors' first Financial Stability Report. Earlier this month, we published our first Supervision and Regulation Report," Powell said. "Together, these reports contain a wealth of information on our approach to financial stability and to financial regulation more broadly. By clearly and transparently explaining our policies, we aim to strengthen the foundation of democratic legitimacy that enables the Fed to serve the needs of the American public."

Before revealing the findings of the latest report, Powell touched upon the outlook and monetary policy of the Fed saying that the Fed was pleased to have completed the mandate given to it by the Congress "of promoting maximum employment and price stability."  He said that the unemployment rate was at 3.7 percent while inflation was near the Fed's 2 percent target.

Watch what Powell said about the outlook of the economy and the findings of the Financial Stability Report in this video:

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.

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