Jul 14, 2010
We must work together and in cooperation with central banks and governments around the world to mitigate systemic risk in the financial and payment systems.
Janet Yellen
The Public Record
Janet Louise Yellen is an American economist currently serving as the 78th United States Secretary of the Treasury, a position she has held since January 26, 2021. She is a member of the Democratic Party and has a distinguished career in economic policy and public service. Yellen previously served as the Chair of the Federal Reserve from 2014 to 2018, becoming the first woman to hold that role. During her tenure at the Federal Reserve, she focused on issues such as unemployment and inflation, advocating for policies aimed at economic recovery following the 2008 financial crisis.
congress.gov
Jul 14, 2010
I would describe the guidance that came out as weak and the material loss reviews that have been done of the institutions that we supervise essentially say that this was the pitfall.
Jul 14, 2010
We are being asked in this bill, appropriately so, to raise capital standards and liquidity standards for these institutions.
Jul 14, 2010
I think we failed completely to understand the complexity of what the impact of a decline, a national decline in housing prices would be in the financial system.
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