Fed's Powell Open To Adjusting Post-crisis Bank Regulation

By Greg RobbMarketsMarketWatch Pulse

With the economy growing and the financial system returned to health, now is a good time to review the raft of banking regulations put in place since the financial crisis, Federal Reserve Governor Jerome Powell said Thursday. "Many of the statutory provisions and regulations put in place...were novel; it is not likely we would have gotten everything exactly right on the first attempt," Powell said in a speech to The Global Finance Forum. Powell was not specific about many of the changes he would support beyond giving relief to smaller banks. He said "core reforms" should be protected but bank management should not be trapped in paperwork and unable to "devote as much of their resources to supporting economic growth."

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