Senate panel to the Fed President of Monetary Policy

Two high -ranking members of the Congress Bank Committees have affirmed that the United States Federal Reserve is detaching from the financial lobbyists about the plans that legislators say that it will weaken the rules of the stress tests.

With Jay Powell ready for a two -day grill in La Colina, Senator Elizabeth Warren and the representative Maxine Waters have written to the president of the Fed before the audiences on the review of the central bank of the stress tests that are directed to The largest lenders of the United States.

“We are concerned that, instead of fighting the banks in court and in other places, the Fed is now now, following President Trump’s elections, looking for new ways for premature surrender,” Warren and Waters wrote in a Letter addressed to the president of the Fed.

The Fed said on December 23 that it would seek public comments on efforts to improve the transparency of its stress tests.

The evidence reviews the resilience of the largest banks in the United States to considerable economic or financial shock.

“Reducing the stress test rules that guarantee that banks are stable during a fiscal or economic crisis is not prudent and unnecessary, and would not be consistent with the Fed mandate to promote the safety and solidity of the banking system and the Broader financial stability “, the letter of the letter”, the letter said.