27.06.201723:05:00UTC+00Fed’s Yellen Foresees No Impending Financial Crisis

U.S. Federal Reserve Chair Janet Yellen said she does not expect another financial crisis in her lifetime, mainly thanks to the reforms of the banking system in the aftermath of the 2007-2009 crash.

Yellen said it would not be good if the reforms implemented in the financial services industry since the crisis were undone and called on those who had helped control the fallout during the time to express their opposition to such unwinding.

U.S. President Donald Trump said during the election campaign that he would ease banking regulation. Earlier this month, the U.S. Treasury Department suggested easing up on regulation big banks now have in their trading operations.

The Fed head also restated her view that the U.S. central bank would continue to hike interest rates only gradually.

She also said said the stockpile of bonds the Fed has accumulated would be trimmed at a gradual and predictable pace.