Reuters: Fed's Yellen expects no new financial crisis in 'our lifetimes'
U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.
"Would I say there will never, ever be another financial crisis?" Yellen said at a question-and-answer event in London.
"You know probably that would be going too far but I do think we're much safer and I hope that it will not be in our lifetimes and I don't believe it will be," she said.
Yellen said it would "not be a good thing" if reforms of the financial services industry since the crisis were unwound, and urged those who had helped manage the fallout at the time to be vocal in preventing such a dilution.
Read more ....
Update: Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime' (CNBC)
WNU Editor: Not surprising .... others have a different point of view .... Great recession fears as bankers warn next global crash could arrive 'with a vengeance' (Caroline Mortimer, The Independent)
Who's paying her to say that?
ReplyDelete" I hope that it will not be in our lifetimes" I guess we're all going to die soon.
ReplyDeleteGood one James.
ReplyDeleteI be not many Zerohedge readers like Yellen or consider her trustworthy.
ReplyDeleteTrue Zerohedge is run by the son of a former Bulgarian agent.
Then again WNU is a former Soviet Foreign services Office.
I think like a political general is more politician than general. Yellen is more politician than economist.
A officer get political to some extent at O5 or O6. They have to do at least minimal work so as to have someone in Congress not sabotage their careers. We all know this.
We now live in a time where the economy follows the stock market, which in my ultra paranoid mind tells me that super computers are basically running the show...we have lost contact with reality.
ReplyDeleteWhen so called leaders like Yellen say shit like that I think it's time to take cover. The moron's were saying, in the years before the 2008 crisis when asked about the high levels of toxic debt, that things were different we're in a new financial paradigm, we all seen how this worked out. It is impossible to say what will happen, but as a rule one should in economic times like these, should carry no debt, and have an emergency fund outside the banking system, the pricks that call themselves leaders, do not have our best interest at heart.
ReplyDelete