Janet Yellen, while speaking at an annual economists’ symposium at Jackson Hole in US, also offered scant clues as to whether the Federal Reserve may raise interest rates again in 2017, something increasingly in doubt. Photo: APWashington: Federal Reserve chairperson Janet Yellen on Friday defended regulations put in place after the 2008 financial meltdown, saying they promoted both stability and economic growth. In her remarks, Yellen also offered scant clues as to whether the Fed may raise interest rates again in 2017, something increasingly in doubt. “The evidence shows that reforms since the crisis have made the financial system substantially safer,” Yellen said in prepared remarks. President Donald Trump has denounced the Dodd-Frank financial reforms, saying they hindered lending, and directed the treasury department to review the legislation for possible changes.

Source: Mint August 25, 2017 15:11 UTC