Yellen rejects Trump approach, says post-crisis banking rules make economy safer

[DonViejo]

Source: The Washington Post




By Damian Paletta August 25 at 10:00 AM

Jackson Hole, Wyo - Federal Reserve Chairwoman Janet Yellen offered a forceful defense of broad new banking regulations enacted after the 2008 financial crisis, saying the rules safeguard the economy against another crisis and rejecting assertions from President Trump and top aides that they should be rolled back.

Yellen’s speech, delivered here to an annual gathering of central bankers, finance ministers, and economists, comes as Trump considers whether to reappoint her to a four-year term as head of the U.S. central bank.

Yellen, 71, made clear in her speech on Friday that she believes tighter regulations and standards have made the banking system safer and that while some improvements could be made, they should be modest, not structural.

“The evidence shows that reforms since the crisis have made the financial system substantially safer,” Yellen said, according to prepared remarks.

Read more: https://www.washingtonpost.com/news/wonk/wp/2017/08/25/yellen-rejects-trump-approach-says-post-crisis-banking-rules-make-economy-safer/?pushid=59a02e8c33cb8a1d0000000d&tid=notifi_push_breaking-news&utm_term=.1408c3b17765

[BumRushDaShow]

1. Her term is up next year

She may be history.

[Historic NY]

2. Because Republicans want a do over of 2008.

[lark]

3. Bye-bye Janet.

She just sealed her fate with Drumpf. He wants banks to be able to steal and swindle with impunity, so she's now officially toast. No person of honor is allowed in his administration, no one who cares about the consumer, only unqualified oligarchs and their toadys fit in with orange assface's cabinet.

[muriel_volestrangler]

4. Kick (nt)