Federal Reserve Governor Lisa Cook said she is closely monitoring weaknesses at nonbank financial institutions as the central bank’s policy cools the economy and leads to tighter financial conditions. “Vulnerabilities at certain NBFIs could play a key role in amplifying stress associated with tightening financial conditions and slowing economic activity,” Cook said in prepared remarks Monday for an event at Duke University in North Carolina. In a broad speech about financial stability, Cook said risks have risen in financial markets in recent years and pointed to several areas that she is watching, including ... (full story)