WASHINGTON (AP) — A Federal Reserve official is criticizing a rule drafted by regulators intended to restrict banks from making certain trades for their own profit. She says she opposes the rule as written because it needs to be toughened.
Fed Gov. Sarah Raskin made the comments in a speech Monday. She was discussing the so-called Volcker Rule, which was mandated under the 2010 financial overhaul. It aims to suppress the kind of risk-taking by banks that fueled the financial crisis.
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