# Prof. Kim Schoenholtz's research is presented at the US Monetary Policy Forum

1 Faculty News February 28, 2014 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://economix.blogs.nytimes.com/2014/02/28/for-the-fed-a-recipe-for-crisis-without-leverage/?_php=true&_type=blogs&_r=0) -- “'Our analysis does suggest that unconventional monetary policies (including QE and forward guidance) can build future hazards by encouraging certain types of risk-taking that are not easily reversed in a controlled manner,' write the authors, the economists Michael Feroli of JPMorgan Chase; Anil Kashyap of the University of Chicago; [Kermit Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz) of New York University; and Hyun Song Shin of Princeton."

[Read more](http://economix.blogs.nytimes.com/2014/02/28/for-the-fed-a-recipe-for-crisis-without-leverage/?_php=true&_type=blogs&_r=0)

Additional coverage appeared on [Bloomberg](http://www.bloomberg.com/news/2014-02-28/fed-s-stein-says-monetary-policy-must-consider-risk-to-stability.html), [Bloomberg Businessweek](http://www.businessweek.com/news/2014-02-28/fed-hears-warning-that-tightening-policy-may-spark-market-tumult), [Politico](http://www.politico.com/morningmoney/0314/morningmoney13163.html), [The Wall Street Journal](http://blogs.wsj.com/economics/2014/03/03/the-fed-and-financial-stability-three-questions/) and [The Washington Post](http://www.washingtonpost.com/blogs/wonkblog/wp/2014/02/28/why-the-feds-taper-could-still-cause-a-market-meltdown/?tid=pm_business_pop).