Key Words: Volcker says he’s already worried about next financial crisis

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Former Fed Chairman Paul Volcker.

Former Fed chief Paul Volcker said that he’s already worried about the next financial crisis and that the health of the financial sector is still shrouded in mystery.

In an interview with the New York Times, timed ahead of the release of a new memoir, Volcker said the real challenge facing economic-policy makers is how to get better and stronger oversight powers over the financial industry.

‘Everybody talks about monetary policy, but the lesson of all this is we need better, stronger supervisory powers.’

Paul Volcker

Asked about the health of the banks XLF, -1.19% , Volcker replied: “They’re in a stronger position than they were, but the honest answer is I don’t know how much they’re manipulating.

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