Fed’s Brainard notes pro-cyclical challenges to supervision
Fiscal stimulus at a time when the economy is running hot requires vigilance, governor says
The Federal Reserve’s Lael Brainard highlighted some of the challenges US supervisors face in dealing with pro-cyclicality in the coming months, during remarks on April 3.
The Fed governor noted the Trump administration’s fiscal stimulus came at a time when the economy was running close to capacity. Though most financial indicators show few signs of danger, supervisors must be vigilant, she said. “We do not have much experience with pro-cyclical fiscal stimulus at a time when resource
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