Fed Chair Yellen Defends Regulations After Financial Crisis
Fed Chair Yellen Defends Regulations After Financial Crisis
Xinhua via ZUMA
27 Agosto, 2017, 16:04
"The steps to improve the capital positions of banks promptly and significantly following the crisis, beginning with the 2009 Supervisory Capital Assessment Program, have resulted in a return of lending growth and profitability among USA banks more quickly than among their global peers", she said.
"Because of the reforms that strengthened our financial system, and with support from monetary and other policies, credit is available on good terms, and lending has advanced broadly in line with economic activity in recent years, contributing to today's strong economy," Yellen said.
"The United States, through coordinated regulatory action and legislation, moved very rapidly to begin reforming our financial system", she said, "and the speed with which our banking system returned to health provides evidence of the effectiveness of that strategy".
Yellen said that in all, the tighter regulations, far from stifling economic growth, had actually helped the economy in part by making the financial system safer.
President Trump threatened lawmakers with a government shutdown earlier this week if Senate Republicans can not agree a bill that provides funding for the controversial Mexico border-wall to begin.
"There are several factors that are slowing this process: mostly these factors have to do with the labor market, and the slowness with which nominal wages will react to the closing of the gap", he said.
Yellen also was expected to address the current climate and the potential for dangers ahead like the real estate bubble that precipitated the crisis.
Trump is now weighing whether to nominate Yellen to another term when her current chairmanship ends in February. Ms. Yellen has agreed that there is room for improvement, but she has cautioned against any significant reduction in regulation.
"While no single factor appears to be the predominant cause of the evolution of market liquidity, some regulations may be affecting market liquidity somewhat", Yellen said.
The Republican-led House has passed legislation that would overturn numerous Dodd-Frank provisions.
Her subsequent rate rises have been gradual, to steal a term central bankers love to use.
Cohn might have complicated the choice of a newFed chair with his criticism of Trump's Charlottesville response. "And now after 10 years everybody wants to go back to a status quo before the great financial crisis", Mr. Fischer told the Financial Times in an interview published last week.
Trump hasn't notched any major policy wins in his time in the White House, but the stock market is up 7.4% since his January 20 inauguration. Not only this, but Mr Draghi also failed to make any comments about the strength of the euro, which was taken as a green light to push it higher, reaching its highest levels since January 2015 and just below 1.20 by Friday's close. "I don't know if anyone then got wind of what Yellen was going to say, but it then dropped like a stone".
The president talked about creating more jobs under his administration, along with addressing immigration and the border wall. Failure to do so would prevent the USA from being able to make all of its payments and could affect the nation's bond rating.
The announcement was made ahead of the weekend's Belgian GP, however, no mention was made about Vettel's future with Ferrari . It could come soon or it could take a long time but now being there it's very unusual place to be.
Following the Charlottesville rallies, which were put on to protest the removal of a statue of Confederate General Robert E. You can also take the pledge to show your own commitment to truth above party politics.
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Si confermano sorprese della stagione la Force India , nonostante problemi finanziari, con Sergio Perez ed Esteban Ocon . Dopo le libere le quote sorridono al britannico della Mercedes , favorito alla vittoria sul circuito belga a 1,55.
Koh then went on to add that the battery in the Note 8 will retain 95 percent of its capacity even after two years of normal use. The users can utilize this whenever they need to take notes or make a shopping list and saved them in this device.
It's fair to say that Chelsea's win over Tottenham has triggered a substantial turnaround in the mood surrounding the club. And yet, there is still reason to be optimistic, after Everton's unbeaten start to this season .
Many popular ascetics claiming to have mystical powers in India , including Singh, have been linked with scandals and controversy. Clashes in 2007 between Dera Sacha Sauda followers and members of the Sikh faith left at least three people dead in north India .
The match is live on Sky Sports Main Event from 3.30pm (BST), with proceedings at Anfield getting underway at 4pm. Arsenal's Alexis Sanchez could make his first appearance of the season after recovering from an abdominal strain.
And the 26-year-old forward will require a late-fitness test to determine his availability for his pivotal contest. He's only 18 and making his second start of the season, but despite his previously promising displays, here at St.
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After a Golden Tate fumble, they needed one play to score again, another flawless Brady strike to Hogan for 32 yards. If he does end up having a torn ACL, there is no reason to doubt the fact that he will miss the entire 2017 season.