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Yellen pushes back on deregulation with rousing defense of post-crisis rules

Joe Mont | August 30, 2017

President Trump has expressed openness to the idea of Janet Yellen, chairman of the Board of Governors of the Federal Reserve, continuing to serve in that capacity. He might be reconsidering after she delivered an impassioned defense of post-Financial Crisis rulemaking that flies in the face of the White House’s deregulatory agenda.

Yellen’s discussion of regulatory achievements came during an Aug. 25 speech, “Financial Stability a Decade after the Onset of the Crisis,” during a symposium sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming

“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. “At the same time, reforms have boosted...

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