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The Fed's Job Is to Keep Systemic Risk From Spilling Across the Whole Economy
Keshkari: We're not seeing evidence of such a popping. Households on average have very strong balance sheets. Big banks, which can be very risky for the economy, are well capitalized relative to where they were before 2008. It's not the Fed's job to bail out Wall Street investors if their stock portfolios go down. But in my view, the bar from us acting should be quite high.