Fed's Powell sees room to ease some US banking rules

Washington (June 26)  U.S. banking regulators have room to ease some of the sweeping restrictions put in place after the financial crisis of 2007-2009, but the core rules for the biggest firms need to stay, Federal Reserve Governor Jerome Powell said on Monday.

"We must also be vigilant against new risks that may develop," Powell said in remarks prepared for delivery at the Salzburg Global Seminar in Austria. The remarks were a condensed version testimony he made last week to Congress, and repeated the same main points. He did not comment on monetary policy or the outlook for the U.S. economy.

Source: Reuters