in particular, during much of the world war ii peri,rltively . because financial crisis were something that happened in developing markets and not established countries, many central banks began to view financial stability policy as a junior partner to monetary policy. it was not as important. it was something that attention was paid to, but not something that the same amount of resources and tea attention was paid to. obviously, based on the crisis and what happened on the effects that we're still feeling it's now clear that maintaining financial stability is just as important a responsibility as monetary and economic stability and indeed, this is, very much a return to the -- where the fed came from the beginning. the reason is fed was created was to try to panics. financial stability was the original motive ofe d. so now we saturday of come full will always be with us. that is probably unavoidable. we've had financial crises for 600 years in the western world. periodically there's bubbles. given what the potential fory important for central ba