Yellen: no to the repeal of the financial reform – Rai News

The president of the american central Bank had been criticized in the election campaign by Donald Trump, who has accused her of being “politicized”. Before Congress says he wants to remain in office until the expiry of his mandate

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November 17, 2016Janet Yellen “the ball” the repeal of the financial reform announced by Donald Trump. The Dodd-Frank Act, the reform launched by the outgoing president Barack Obama after the 2008 crisis, “has many positive aspects” and should not “bring back the clock on financial regulation”, says the chairman of the Federal Reserve during a hearing before the joint economic Committee of the Congress. “You should be happy that now the financial system is safer and is based on more solid bases,” he stresses. The president-elect has repeatedly criticized the reform and anticipated that once he entered the White House promises to review the various parts. In particular, he said Yellen, “it would not be appropriate to return to the previous standards on the mortgages that led to the crisis”.

“I Intend to remain at the head of the Fed until the expiry of the mandate,”
Yellen has explained that it intends to remain at the head of the Federal Reserve until the natural expiry of his tenure. “I don’t see” circumstances in which “I could not serve the full term at the Fed. My intention is to stay for the four years of the mandate,” said the president of the american central Bank during the hearing before the Us Congress.

The commitment of Yellen to remain following the criticisms that have been leveled by the president-elect, Donald Trump, who has accused her of being politicized, feeding the rumors that in the event of his electoral victory, would be discharged from the hospital.

“The data reinforce the possibility of an increase in interest rates”
The last data that arrived from the Us economy “are consistent with the mandate of the Fed” tightening of the labour market and inflation under control, has underlined the chairman of the Federal Reserve. The emphasis on the indications received after the last vertex of the monetary policy committee of the Fed, then, seems to make more credible the hypothesis of a rate hike in the next meeting on 13 and 14 December. If the data will confirm the scenario, said Yellen, the Fed will have to perhaps adjust their own perspectives”.

“Adjustment of the outlook when it will be more clear the policy of the new government”
Looking ahead, the central Bank americava will assess the impact of the economic strategy of the next administration, that of president-elect, Donald Trump, said Janet Yellen. Responding to those who wondered if the election of Trump laid between the reasons for concern of the Fed, Yellen did not mention directly the president-elect, and limited themselves to general considerations: the economy continues to strengthen, and the same applies to the labour market, but “obviously, there are economic policy issues that the Congress and the administration will evaluate in the coming months and when there will be greater clarity on the position of the Government on economic issues, the Federal Reserve will assess the possible effect on the outlook statement and the strategy necessary to respond, possibly adjusting the outlook,” said Yellen, reiterating tha t “the present state of things, the economy is making progress toward the achievement of the goals.”