One theme stood out during Federal Reserve Chairwoman Janet Yellen’s two days of congressional testimony that wrapped up Wednesday afternoon: Democrats prodding her to undercut the Trump administration’s rationale for easing bank regulations.
Amid a Republican effort to undo many of former President Barack Obama’s post-crisis financial rules, a number of Democrats sought to get the nation’s top economist to say that bank loans are not unavailable and that the economy is not suffering because of bank overregulation, counter to President Trump’s claims that the post-crisis rules have made it difficult for banks to lend, starving businesses of credit.
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