Federal Reserve Chair Janet Yellen comments on bank regulation and supervision to the Citizens Budget Commission's Annual Awards Dinner
- Says brazenly unlawful behavior of some bankers raise questions about firms' values, ethics
- Banks must still improve governance and internal controls
- Federal Reserve will take swift action to ensure risk management improved on Wall Street
- Federal Reserve working hard to prevent 'regulatory capture'; concerns of supervisors must be addressed
Yellen hasn't commented on monetary policy in her speech
There will be no Q& A.
Just as well, this is exciting enough! (ps. that's a joke)
