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(CEP News) - Minneapolis Fed President Gary Stern (voter) says that while the move to bolster credit markets is needed, it has also exacerbated the "too big to fail" phenomenon.
Delivering remarks at the Council of Institutional Investors on the 'Repercussion from the Financial Shock' in Washington, D.C. on Tuesday, Stern said that if this issue goes unaddressed, it may become the source of a future shock. Stern also commented that the Federal Reserve will need to identify reforms and that it must focus on systemic and focused supervision. Stern added that he expects to see further increases in unemployment. By Steve Stecyk,
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, edited by Nancy Girgis,
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