Yellen issues broad defence of post-crisis financial rules

The Fed has sharpened its focus on financial stability since the crisis

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 US economy.
 
Yellen, speaking in Jackson Hole, Wyoming, on Friday, issued her broadest defence 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.
 
“Any adjustments to the regulatory framework should be modest and preserve the increase in resilience at