Fed’s Yellen: No New Financial Crisis In ‘Our Lifetimes’

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U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.

“You know probably that would be going too far but I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will be,” she said.

Yellen said it would “not be a good thing” if reforms of the financial services industry since the crisis were unwound, and urged those who had helped manage the fallout at the time to be vocal in preventing such a dilution.

U.S. President Donald Trump has said during his election campaign that he would cut banking regulation. The U.S. Treasury Department earlier this month proposed easing up on restrictions big banks now face in their trading operations. Read more at REUTERS.

{Matzav}

 

1 COMMENT

  1. Sounds like another famous “in our lifetime” by Neville Chamberlain – how well did that work out. Yellen comes across as a political hack, not as a fed. Trump should fire her.

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