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Yellen rejects Trump approach to Wall Street regulation, says post-crisis ...

Trump has said he likes her cautious approach to raising interest rates, but declaring her opposition to rolling back new banking rules could put a wide chasm between her and the White House.

Federal Reserve Chair Janet Yellen said the U.S. economy is healthy enough to absorb gradual rate increases and the slow wind down of the Fed's bond portfolio, during an appearance at the Captiol on July 12.

Yellen’s speech comes just hours after the Financial Times published an interview with Gary Cohn, Trump’s top economic adviser, in which he openly criticized the way Trump handled violence carried out by neo Nazis and white supremacists in Charlottesville.

Banks and Financial Companies were chasing profits by making loans to people who lacked the ability to repay, at times falsifying documents and betting on the false premise that the housing market would continue to soar.

In 2010, the Obama administration and Congress passed a law that imposed new consumer protection rules, required banks to hold bigger cushions against losses, put new limits on their ability to take risk, tried to establish a process to help wind down large financial companies.

READ MORE (Washington Post)

  • Yellen: Financial rules have made economy stronger, changes should be 'modest'Yahoo Finance
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  • Yellen Defends Bank Regulations Passed After 2008 CrisisU.S. News & World Report
  • European markets edge slightly higher, but retail lag; Yellen kicks off ...Yahoo Finance
  • European close in the red as Yellen disappoints ahead of Draghi speechMarketWatch
  • Four charts show why US investors should watch Draghi at Jackson HoleMarketWatch
  • Markets see a possible Jackson Hole surprise from central bankersYahoo Finance
  • Yellen defends tougher financial regulations, a move that could hurt her ...Los Angeles Times
  • MARKET SNAPSHOT: Stocks Advance As Yellen Defends Banking Rules In Jackson

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Yellen rejects Trump approach to Wall Street regulation, says post-crisis ...


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