Dec 14, 202416017 Views
Dec 14, 2024
Reuters exclusively revealed that US Treasury Secretary Yellen urged the incoming Trump administration on the 13th local time not to interfere with appropriate regulation of US bank capital levels, liquidity, and risk-taking, which are crucial to ensuring the health of the banking system. Reuters mentioned that Yellen has been serving as the Treasury Secretary in the Biden administration since January 2021. She stated that the current US regulatory system is not perfect, and seeking ways to reduce the burden is reasonable. However, she also warned that given the history of bank failures leading to financial crises, radical measures should not be taken to interfere with necessary regulation. "I don't want to say that what we have is absolutely sacred and untouchable. But I don't think it's broken. We have a good system," Yellen told Reuters.
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