Yellen and Bernanke call for Treasury market reform
March's market gyrations demand close look at infrastructure and regulatory framework, former Fed chairs say
Former Federal Reserve chairs Janet Yellen and Ben Bernanke are calling for US policy-makers to look closely at why financial markets became dysfunctional in March, hoping to reduce the need for Fed intervention in the future.
Reforms may be needed to improve Treasury market infrastructure, both chairs wrote in a Brookings Institution post on July 17.
Yellen also argued during a panel discussion a week earlier that the US financial stability framework needs a major review. Regulatory and
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