Dudley: use ‘paring knife not meat cleaver’ on Dodd-Frank
New York Fed president accepts some elements of Dodd-Frank could be improved
The US Congress should be cautious if it chooses to make changes to the Dodd-Frank Act, though some action could be warranted, William Dudley said on November 6.
The president of the New York Fed admitted aspects of post-crisis regulation in the US might need reform. He suggested the regulatory burden for smaller banks could be lightened, and the criteria for market-making in the Volcker rule could be made more permissive.
But he also warned the US was particularly vulnerable because of its
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