Arguably, eliminating suspensions of payments--periods when banks jointly refuse to convert their liabilities into outside money or other assets--was an important impetus for creating the Federal Reserve. Friedman and Schwartz suggest that a suspension in 1930 would have decreased the severity...

Remarks hosted by the Institute of Regulation & Risk North Asia, Hong Kong

Comments at the 10th Anniversary of CLS, New York City.

Remarks hosted by the Institute of Regulation & Risk North Asia, Tokyo, Japan.

Remarks at the Reserve Bank of Australia's 50th Anniversary Symposium, Sydney, Australia.

Remarks at the Reserve Bank of Australia's 50th Anniversary Symposium, Sydney, Australia.

The diagnosis on banks is comforting, despite a few weak spots here and there and an economy that's slowing down.