The No. 2 official at the Federal Reserve issued a warning against Republican efforts to loosen bank rules in an interview published Wednesday, saying they risk another crisis like the Great Depression or the 2008 crash.
"[T]he pressure is on now to ease up. The pressure to ease up on small banks is fine with me. But the pressure I fear is coming to ease up on large banks strikes me as very, very dangerous," said Stanley Fischer, the vice chairman of the central bank.
Fischer delivered his comments in a lunch interview with the Financial Times.
Fed chairwoman Janet Yellen has said some of the Trump proposals make sense, but some of them would also increase the odds of another financial crisis.
Fischer offered a more critical take, saying in Wednesday's interview the push for less regulation is "mind-boggling" and that "one cannot understand why grown intelligent people reach the conclusion that [you should] get rid of all the things you have put in place in the last 10 years."
Fischer, a former academic, Citigroup vice chairman, and Bank of Israel governor, has a term that runs through next June.