Questionable Future for the Financial Market

By Courtney Costello- Talk Radio News Service

The Federal Reserve Board sponsored a conference today in Washington, D.C., and outlined the United States financial market today and where new economic research will lead into the future. The conference was held to “go beyond the blog level discussion of many of these [economic] issues” and experts presented scholarly papers to give a sense of what new ideas are forming after the recent economic crisis around the globe.

Mark Gertler, a professor of economics at New York University said, “There is a need for new financial market regulation.”

The Federal Reserve should make a direct impact in markets where private groups are hurting, since evidence shows that it can push down credit costs in those markets, Gertler said.

“Lawmakers and policy makers will need to keep in mind the complex but undeniable way that financial markets…interact with the real economy…The Federal Reserve can and must play an integral role in the financial and regulatory framework in the United States,” said Eric Rosengren, President of the Federal Reserve Bank of Boston.