Yellen urges incoming Trump administration not to take aggressive steps to interfere with necessary banking supervision
U.S. Treasury Secretary Janet Yellen urged the incoming Trump administration on the 13th local time not to interfere with appropriate regulations on the capital levels, liquidity and risk-taking of U.S. banks, which are essential to ensuring the health of the banking system, Reuters exclusively disclosed. Yellen has been Treasury secretary in the Biden administration since January 2021, Reuters mentioned. She said that the current regulatory system in the United States is not perfect and it is reasonable to seek ways to reduce the burden. But she also warned that given the history of financial crises caused by bank failures, radical measures should not be taken to interfere with necessary regulations. "I don't want to say that what we have is absolutely sacrosanct or untouchable. But I don't think it's broken. We have a good system," Yellen told Reuters. (Global Network)