In Jackson Hole, Janet Yellen defends post-crisis regulations
Washington — On Friday, US Federal Reserve chairperson Janet Yellen defended regulations put in place after the 2008 financial meltdown, saying they promoted both stability and economic growth. The remarks came during a much anticipated address at an annual economists’ symposium at Jackson Hole, Wyoming, and followed efforts by Donald Trump’s administration to roll back legislation adopted to prevent another collapse in the financial system. The administration blames the regulations for stifling economic growth. European Central Bank (ECB) president Mario Draghi is also due to deliver remarks to the symposium Friday, but analysts said they expected both central bank chiefs to avoid policy pronouncements that could touch off market jitters. Observers will be watching closely to see whether Draghi gives any sign of when the ECB may wind down a bond-buying stimulus program put in place after the crisis. In her remarks, Yellen also offered scant clues as to whether the Fed may raise int...
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