Fed’s Cook: ‘We must remain vigilant to potential shocks’

"We must remain vigilant to potential shocks that could exacerbate vulnerabilities in the global financial system," Cook said in remarks prepared for delivery at the Central Bank of Ireland. Much of her speech was a repeat of one on Monday, in which she described a largely resilient financial sector, though subject to some risks including from non-bank financial institutions and from a decline in commercial real estate values, and a largely strong household sector, though with some stresses building among those with lower credit scores.