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The Fed: Yellen defends post-crisis bank rules under assault from Trump, Dimon

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Federal Reserve Board Chairwoman Janet Yellen steered clear of talking about current interest-rate policy in her Jackson Hole speech.

The Dodd-Frank law and regulations put in place since the financial crisis have made the financial system “substantially safer,” Federal Reserve Chairwoman Janet Yellen said Friday in a ringing defense of the rules now under fire from President Donald Trump and J.P. Morgan CEO Jamie Dimon.

“Because of the reforms that strengthened our financial system, and with support from monetary and other policies, credit is available on good terms, and lending has advanced broadly in line with economic activity in recent years, contributing to today’s strong economy,” Yellen said in her highly anticipated speech at the Fed’s summer retreat in Jackson Hole.

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