Larry Wall
Director
Director
Our Mission
The purpose of the Center for Financial Innovation and Stability is to improve knowledge of financial innovation and financial stability as well as the connection between the two, especially as it pertains to Federal Reserve policymaking.
The benefits of financial innovation have been widespread. At the same time, financial innovation can be disruptive, by introducing new instruments of uncertain value and undermining current financial market participants' positions. As developments in 2007 and 2008 have shown, these effects can create serious impediments to the efficient working of financial markets.
The goals of the center are to support research on financial innovation and stability and disseminate that research to interested parties. This research will include both informative original research on economic issues and research concerning the effects of government policies. A by-product of the center is to help the Bank and the Research Department become a well-known center for research on financial innovation and stability.