Summary:
- This article is a speech given by the Vice Chair of the Board of Governors of the Federal Reserve System, discussing the importance of the Federal Reserve's role in promoting financial stability and economic growth.
- The speech highlights the Fed's efforts to monitor and address risks to the financial system, such as vulnerabilities in the nonbank financial sector and the potential impact of climate change.
- The speaker emphasizes the Fed's commitment to using its tools and expertise to support a strong and resilient financial system, which is crucial for the overall economic well-being of the United States.