Economics
Fed's Mester Warns Against Dismantling Post-Crisis Bank Reforms
- Says rulemakers should watch how regime performs through cycle
- Monetary policy should remain on table as last defense
House Passes Dodd-Frank Rollback Bill
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Federal Reserve Bank of Cleveland President Loretta Mester warned against dismantling core reforms that have made U.S. banks better able to withstand a financial crisis.
“It would be a mistake to unwind the steps taken since the financial crisis that have led to a more resilient financial system,” Mester said in the text of a speech she’ll deliver Friday at a European Central Bank conference in Frankfurt. “I would like to see how the new settings perform throughout the cycle before making major changes.”