Economics
Yellen Issues Broad Defense of Post-Crisis Financial Rules
- ‘Substantial progress’ has been made on twin Fed goals: Yellen
- Hawkish tone on regulations may clash with Trump campaign vow
Yellen: Reforms Made Financials Substantially Safer
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Federal Reserve Chair Janet Yellen said any rollback of post-crisis financial reforms should be “modest” because they’ve made the banking system safer and more resilient, rebutting Republicans in Congress and the White House who blame regulatory red tape for holding back the U.S. economy.
Yellen, speaking in Jackson Hole, Wyoming, on Friday, issued her broadest defense so far of the government’s response to the 2008 financial-market meltdown while outlining some areas that regulators could review to improve efficiency in the financial system.