Treasury secretary. He spoke on the health of the financial industry and the threat of another crisis. This portion of the National Association or business economics conference is 45 minutes. E is 45 minutes. Welcome to our general session for this afternoon. Im the chief economist at ford and im very pleased to be here today to introduce and moderate a discussion with the president of the Federal Reserve bank of minneapolis. He took office as the president chief executive officer on of 2016. St he serves on the federal open the t economy bringing feds committee bringing in washington. However, i want to preface the noting that day by after he accepted our invitation o speak here today, the fed adjusted its blackout period ahead of its Monetary Policy in facts so that we are within the fed blackout period today. Kind to keep his commitment to be with us here today. He will not be able to talk about the Monetary Policy aspect of his position at the fed. That said theres lots we can talk
Cushion of Monetary Policy. And so falling upon one of the data points of trade, we will talk a little bit about Monetary Policy with as part of the discussion that the talk of the role of the Balance Sheet in a little bit. So, randy crosser, and you know both of these books, and former with the chicago fed, and now with the school in chicago and now at johns hopkins, and after leaving time with the feds. And so, we are now in the third longest economic expansion that we have had. One of the questions is, will policy change of what is being discussed with the monetary fiscal policy to extend that expansion or not. In light of the discussion about the looking at the we at fannie mae look at the 10year treasury all of the time. And that started to rise back in july with the ecb holding steady, and post brexit in the end of july with the d. O. J. Saying they would reassessment the negative rates in july, and then we started a gradual rise at that point, and accelerated with the president
captioning performed by vitac so one of the pushbacks that we will get, theyll say its a little bit of strong man argument. If you take a two trillion dollars bank and you divide it up into 2000 billion banks and they make the same mistakes, has safety been improved and thats a very fair question. If you really had 20,100,000,000,000 banks, each with their own boards of directors, theyre not all going to make identical decisions. The point is still taken. A lot of little banks does not necessarily safer than one giant banks if they all take identical positions. I go back to the savings and loan crisis, a thousand little banks failed in america. It was costly for the country. Was there any risk of a National Economic collapse or Global Economic collapse . No. So if we can encourage diversity of use and opinions i think were going to be better off and thats why our capital standards start at 250 billion and above. Smaller banks end up having the Capital Requirements they have today. So t
And im very pleased to be here today to introduce a moderate a discussion with the president of the Federal Reserve bank of minneapolis, neil kashkari, he took office as the president and chief executive officer at the minneapolis fed on january 1st of 2016. As part of that rule he serves on the federal open Market Committee bringing the feds ninth districts perspective to mondetary policy discussions in washington. However i do want to preface the appearance by noting that after president accepted our invitation to speak here today, the fed adjusted its blackout period ahead of its Monetary Policy decision so that we are in fact within the feds blackout period today. President kashkari was very kind to keep his commitment to be here today but not able to talk about the Monetary Policy aspect of his position at the fed in todays session. That said, there is lots we can still talk about and i know we will have a very good discussion on the topic of too big to fail. But before that, a li
Both in the construction and execution of Monetary Policy. Following on one of the data points, trade, i guess were going to talk a little bit about Monetary Policy. As part of that discussion, the fed has started to talk about that being the role of its Balance Sheet. Well talk about that in a little bit. So randy, i think all of you know both of these folks. University of chicago, former governor at the fed, now with the university of chicago. And john foust, a number of years at the fed, now at john hopkins but on leave back to the fed. You just cant quit the fed. So were now in the third longest economic expansion that weve had. One of the questions is will policy change which has been discussed both in monetary and fiscal policy extend that expansion or not. In light of the discussion about the Mortgage Backed component of the feds Balance Sheet, ive been looking we at fannie mae look at the tenyear treasury all the time. That actually started to rise back in july with the ecb Hol