Senate approves bill rewriting post-crisis bank rules
The U.S. Senate voted 67 to 31 on Wednesday to ease bank rules, bringing Congress a step closer to passing the first rewrite of the Dodd-Frank reform law enacted after the 2007-2009 global financial crisis.
Read more at https://www.channelnewsasia.com/news/business/senate-approves-bill-rewriting-post-crisis-bank-rules-10044748 (Updated: )
Ricky Lim · Singapore Yellen leaves with the US economic recovery in full swing amid low inflation, steady job growth and asset prices repeatedly smashing records - a performance that won her plaudits from Wall Street and the White House.
Unlike Yellen, Powell is a Republican seen as more amenable to Trump's deregulation agenda. Diane Swonk, chief economist at Grant Thornton, told AFP the environment for the Fed may be more challenging than the calm waters Yellen leaves behind, with the Fed unnerved by the possibility of asset bubbles. "So far, Chair Yellen gets to leave without leaving a ripple on financial markets," Swonk said
-- Actually Yellen did an excellent job - where 10 years ago, US is hit by a deep recession from sub-prime crisis - and she did an exemplary job of bringing up US Economy of what we see today.
Regulation put in place by Yellem to regulate the financial sector in US to prevent Lehman crisis - bring about the regaining of World confidence in the US financial sector after deep financial crisis cause by the Lehman saga.
Now Trump talk about de-regulation of the financial sector again - and the World will watch with mindful breath and let see whether asset bubbles, the like of Lehman brothers will emerge again. Like · Reply · 1m
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