Federal Reserve Bank of New York President William Dudley spoke on Saturday

He was speaking at a conference hosted by the Federal Reserve Bank of Boston

While he didn't comment on interest-rate policy or the economic outlook, he did drop a few remarks on financial stability concerns:

  • U.S. policy makers are "a long way" from being able to identify developing risks to financial stability and act in time to prevent future crises
  • Says the U.S. regulatory structure is fragmented, preventing any single regulator from being able to implement risk-reducing tools in a broad enough fashion

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Dudley is vice chairman of the Federal Open Market Committee