Acting hastily to install reforms after a crisis not only often fail to solve the problem, but can also create new problems, Federal Reserve Bank of Cleveland president and chief executive officer Sandra Pianalto said yesterday.

“If reforms are to be successful and enduring, they should reflect comprehensive assessments and analyses of the factors that contributed to the crises,” Pianalto told the Hyman P. Minsky Conference on the State of the U. S. and World Economies, according to prepared text of the speech released by the Fed.

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