Yellen Distances Herself From Trump in Jackson Hole Speech
By Rich Miller and Craig Torres
In the end, it sounded more like a swan song than a job audition. By broadly defending the sweeping financial rules put in place in the past decade, Federal Reserve Chair Janet Yellen distanced herself on Friday from the anti-regulatory rhetoric of the man who will decide whether to replace her, President Donald Trump. …Karen Shaw Petrou, managing partner at Federal Financial Analytics, a Washington firm specializing in regulatory analysis, said that the only olive branch the Yellen Fed was offering Trump was regulatory relief for small and medium-sized banks, plus unspecified changes in the Volcker Rule. “The Fed is sending a broad, purposeful, and forceful statement that they agree to virtually nothing the administration is likely to ask” for on financial deregulation, Petrou said.