Bill Dudley, Columnist

The Financial Lessons of the Covid-19 Pandemic

There’s a lot of fixing to do outside the core banking system.

February 3, 2021 at 11:30 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

Good job, but maybe be better prepared next time? — Good job, but maybe be better prepared next time?
Photographer: Tasos Katopodis/Getty Images

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The coronavirus crisis delivered a severe shock to the U.S. financial system. So how did it do? Did the reforms enacted after the 2008 financial crisis succeed in ensuring stability this time around?

The answer is mixed, which means there’s more work to do.