The Senate for Test, Speaker of the Federal Reserve for Monetary Policy

Two senior members of the Congressing committees in Congress claimed that the American Federal Reserve is to overcome financial pressure groups on the plans that legislators say will weaken the rules of stress test.

With Jay Powell applied for a two -day barbecue on the hill, Senator Elizabeth Warren and actor Maxine Waters wrote to the Federal Reserve Chairman before listening sessions on the Central Bank review of stress tests targeting the largest lenders in the United States.

“We are concerned that instead of fighting banks in the courts and other places, the Federal Reserve is now – following the election of President Trump – the search for new ways of early surrender,” Warren Waters wrote in a letter addressed to the Federal Reserve Chairman. .

The Federal Reserve said on December 23 that it will request a public comment on the efforts to improve the transparency of stress tests.

The tests are reviewing the flexibility of the largest banks in the United States to a great economic or financial shock.

“The rules of low stress test that guarantee that banks are stable during the financial or economic crisis is unavoidable, and will not be consistent with the delegation of the Federal Reserve to enhance the safety and safety of the banking system and wider financial stability,” he said.