Tobias Adrian: "financial stability risks have been contained so far"

Financial stability risks have been contained so far and hopefully that will remain the case.  As a result, monetary policy can focus on fighting inflation and that's a desirable outcome.

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I think that systemic risk has been contained to date and I'm confident in the crisis management toolkit that we have.  But I would not be surprised if there were other episodes of turmoil both in banks and nonbank financial intermediaries.

~ Tobias Adrian, IMF's director of the monetary and capital markets department, "IMF calls risks from bank crisis 'contained,' urges central banks focus on inflation," Yahoo Finance, April 13, 2023