Good morning everyone and thank you to President Rosengren and the Boston Fed for hosting this conference. The Federal Reserve is strongly committed to stress testing as a cornerstone of our bank supervisory and financial stability missions. Stress testing is perhaps the most successful supervisory innovation of the post-crisis era. But if stress tests are to continue to serve their critical function, they will need to evolve in the years ahead to keep pace with the ever-changing financial system, as they have since the first round of tests in 2009. Before looking to the future, let me recall a bit of history. A ... (full story)