, which were adapted after hearing their input. other federal reserve partnerships with indian country include initiatives on access to credit ; native community development financial institutions ; financial education programs tailored to early childhood, secondary, and higher education ; workforce development ; housing ; social services ; and elder programs. and as part of our ongoing effort to deepen our understanding of tribal economies, last year, the federal reserve board announced that we had joined the central bank network for indigenous inclusion, along with the reserve bank of new zealand, the bank of canada, and the reserve bank of australia. this is part of our commitment to learning best practices and expanding our international partnerships with central banks that are similarly invested in supporting indigenous people and communities. - 3the federal reserve works for all of us, and our research and analysis must reflect the specific needs and circumstances of all of our communities. i am grateful for our partnership with the national center for american indian enterprise development, and i want to thank you, as well as all our colleagues, advisors, and stakeholders who help us work toward a stable and inclusive economy for all. thank you.

higher inflation and interest rates in the u. s. and in many other countries around the world. but we should not assume that “ more ” is always better. more regulation and more supervision are see michelle w. bowman, “ the path forward for bank capital reform ” ( remarks at protect main street, sponsored by the center for capital markets at the u. s. chamber of commerce, washington, d. c., january 17, 2024 ), https : / / www. federalreserve. gov / newsevents / speech / files / bowman20240117a. pdf. - 13 only effective if the changes are targeted to address an existing problem and are appropriately focused and efficient. 14 when they are targeted and efficient, they may result in a net positive both in bank safety and soundness, and in financial stability. the function of bank regulators is not to create a bank regulatory framework that eliminates risk. banking is inherently about managing, not eliminating, risk. closing my remarks today are not meant to be an exhaustive list of all the financial stability threats facing the u. s. banking system, but i would be remiss in concluding without briefly mentioning a few other key financial stability risks, all of which i expect are familiar to you. first, monetary policy and the fight against inflation. this is a key risk identified in the financial stability report, and in surveys of bankers. when effectively implemented, monetary policy promotes price stability and maximum employment. in the long run, achieving both of these objectives promotes the stability of the broader financial system. it is of utmost importance that we maintain credibility in pursuing our fight against inflation by proceeding carefully and deliberately to achieve our 2 percent goal. but we cannot ignore the fact that monetary policy can present risks to the banking system and the broader financial system. changes in interest rates can make it more difficult for banks to manage interest rate risk, particularly in the face of rapid rate increases like those from 2022 and 2023. we know that many banks have seen a significant increase in unrealized losses on their balance sheets, a trend that has led to pressure on liquidity, funding, and capital for some institutions. see bowman, “ the path forward for bank capital reform. ” - 14 while monetary policy mandates may support long - term financial stability, monetary policy is an independent function that may heighten short - term stresses in the banking system. our supervisory activities should reflect an awareness of these effects on bank management decision