-- Published: Thursday, 13 December 2018 | Print | Disqus
– ‘Gigantic holes in the system’ warns former Fed Head – Interest rates will remain lower than they have been in past – Leveraged loans pose risks and there is unfinished regulation – “I think things have improved, but then I think there are gigantic holes in the system” – No new financial crisis in ‘our lifetimes’, Yellen said only last year – Editors note: Yellen should know as she and her predecessors are responsible for some of the “gigantic holes”
Image Source: Mike Shedlock
Former Federal Reserve Chairperson Janet Yellen told an audience in New York that she fears there could be another financial crisis brewing.
She warned of leveraged loans and the inability for the Fed to bail out banks. She said that banking regulators have seen reductions in their authority to address banking and financial panics and warned of the current push to deregulate.
“I think things have improved, but then I think there are gigantic holes in the system,” Yellen warned Monday evening.
“The tools that are available to deal with emerging problems are not great in the United States,” she said in a discussion moderated by New York Times columnist Paul Krugman at CUNY.
Yellen warned that leverage loans are an area of concern, something also mentioned by the current Fed leadership.
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
