Update: Yellen didn’t discuss her outlook for interest rates or the economy in her prepared remarks.
Bloomberg reports that Federal Reserve Chair Janet Yellen said the U.S. central bank has been working to ensure that regulations are tailored to the size, complexity and roles of the lenders it oversees.
“For community banks, which by and large avoided the risky business practices that contributed to the financial crisis, we have been focused on making sure that much-needed improvements to regulation and supervision since the crisis are appropriate and not unduly burdensome,” Yellen said Wednesday.
Yellen didn’t discuss her outlook for interest rates or the economy in her prepared remarks.
The Fed has “an abiding commitment to consider how our decisions affect institutions and the customers they serve,” she said in a text prepared for delivery at the St. Louis Fed’s annual community banking conference.
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As we detailed earlier, since Janet Yellen last spoke (shifting hawkish), the dollar and bond yields have surged (as have the odds of a Dec rate-hike).
Since Yellen last spoke...
It is unclear whether today's opening remarks at the fifth annual Community Banking in the 21st Century conference at the Federal Reserve Bank of St. Louis, will offer any new insights on monetary policy direction but given President Trump's 'shortlist', it may well be among her last public appearances as Fed Chair.
No Q&A is expected and her speech is scheduled for less than 15 minutes.
Notably, James Bullard, head of the Federal Reserve Bank of St. Louis is also speaking at this event, so there is always room for some uber-dovishness if Yellen tilts further hawkish.
Live Feed, due to begin at 315pm ET (Unfortunately no embed is available so click the image below for a link):