Fed's Powell Reiterates His Call For Relaxing Some Banking Regulations

By Victor Reklaitis Markets MarketWatch Pulse

U.S. banking regulators have room to ease some of the sweeping rules put in place after the 2007-9 financial crisis, but core restrictions for the largest companies need to stay, Federal Reserve Gov. Jerome Powell said on Monday at an event in Austria, according to a Reuters report based on his prepared remarks. "There is room for eliminating or relaxing aspects of the implementing regulation in ways that do not undermine the Volcker rule's main policy goals," Powell said. The remarks were a condensed version of testimony he made last week to Congress, repeating the same main points, the report added.

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