Analysis: Fed governor is on the lookout for bubbles

Jeremy Stein, who joined the Federal Reserve last year, says he considers spotting and preventing bubbles a top priority. Stein is focusing on areas that he considers of particular concern, including high-yield bonds and mortgage-backed securities. His vigilance is somewhat at odds with traditional central-banking policy, which shies from using interest rates to combat distortion in specific asset classes.

View Full Article in:

New York Times (tiered subscription model), The

Published in Briefs: