The release of the September meeting of the Federal Open Market Committee minutes reinforce concerns that the central bank doesn't fully grasp the interplay between monetary policy, inflation, and unemployment.
Federal Reserve Gov. Jerome Powell said capital levels have been well calibrated but that some changes to the capital rules may be in order to make compliance easier.
Under the bill, regional banks may eventually be able to shed the systemically important financial institution designation that subjects those with more than $50 billion in assets to tougher regulatory requirements.
Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.
The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules.
The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.
Fed chair says post-crisis financial reforms have strengthened the banking system and the economy; consumers again comfortable borrowing against their home equity.
Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers.
JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.
