A conversation on financial stability with Federal Reserve Governor Lisa Cook

The importance of maintaining financial stability—and minimizing the risk of financial crises—has been painfully obvious since the global financial crisis of 2007-09. One key responsibility of the Federal Reserve, in addition to supervising individual financial institutions, is monitoring systemic risks and taking steps to contain them.

On May 8, Federal Reserve Governor Lisa D. Cook, who chairs the Federal Reserve Board’s Committee on Financial Stability, discussed the Fed’s latest semi-annual Financial Stability Report at an event hosted by the Hutchins Center on Fiscal and Monetary Policy. Cook joined the Federal Reserve Board in 2022 and was formerly a professor of economics and international relations at Michigan State University.

Following her remarks, she was joined in conversation by Don Kohn, former Fed vice chair and now Robert V. Roosa chair in international economics at Brookings, and Carolyn Wilkins, former senior deputy governor of the Bank of Canada and now at Princeton University’s Griswold Center for Economic Policy Studies. Wilkins is currently an external member of the Bank of England’s Financial Policy Committee; Kohn is a former member.

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