Investing.com – In the first speech from a Federal Reserve member since the policy decision on Wednesday, New York Fed president William Dudley suggested on Friday that the financial sector has come a long way since the crisis thanks to increased bank supervision, but there is still much work to be done.
In a speech at a conference on bank supervision in New York, Dudley applauded the evolving supervisory framework that he considered has made the financial sector “much more resilient”.
He admitted that the key challenge in assessing the effectiveness of supervision was that their work was “by necessity, confidential”.
Dudley made no mention on the U.S. economy or monetary policy.
Boston Fed Eric Rosengren will give a speech at the same conference at 15:00GMT, or 11:00AM ET.
St. Louis Fed president James Bullard will speak on the economy and monetary policy at 18:00 GMT or 14:00ET.