Federal Reserve Governor Christopher J. Waller: “Fundamentally, financial stress emerges when someone is owed something and doesn’t get paid back or becomes worried they won’t be paid back.”
by Dismal-Jellyfish Climate Change and Financial Stability Governor Christopher J. Waller At the IE University – Banco de España – Federal Reserve Bank of St. Louis Conference Current Challenges in Economics and Finance, Madrid, Spain https://www.federalreserve.gov/newsevents/speech/waller20230511a.htm TLDRS: “Fundamentally, financial stress …