Since no methods exist to reliably detect asset bubbles, “it seems unwise to adopt fighting them as a policy objective,” Federal Reserve Bank of Chicago president and chief executive officer Charles L. Evans said Friday.

“Instead, it seems better to commit to what central banks are already mandated to do: preserve the safety and soundness of the financial system at all times, including when there is apparent exuberance in asset markets,” Evans said at a conference in Paris, according to prepared text of the speech released by the Fed.

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