On today's Planet Money:
We land a rare broadcast interview with William Dudley, the president of the New York Fed.
The classic Fed stance has been that there's not much that regulators can do about the economic bubbles that grow and pop. Dudley disagrees — at least, he says, fighting bubbles is worth a shot.
...what I am proposing is that we try — try to identify bubbles in real time, try to develop tools to address those bubbles, try to use those tools when appropriate to limit the size of those bubbles and, therefore, try to limit the damage when those bubbles burst.
For more, read a complete transcript of our interview with Dudley, and check out the speech on bubbles Dudley gave this week.
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