Evans asked about financial stability
- Supervision and regulation, no monetary policy, are the best tools for financial stability
- Repeats that it will take years for Fed to hit 2% avg inflation goal
I think there will eventually be a lively debate out this. There are pockets of the world -- like real estate -- that get skewed by low rates and that doesn't necessarily mean broad inflation. It's not anyone's job to monitor or act on that.
