Yellen Says Reforms Made Financials Substantially Safer

Janet Yellen's speech highlights the improvements in financial regulation since the Great Recession, emphasizing the increased safety of the financial system due to reforms in liquidity and capital requirements. She addresses concerns about regulation's impact on lending and economic growth, noting the benefits of higher capital standards. Yellen acknowledges some areas for improvement in the Volcker rule and Dodd Frank legislation but overall praises the Federal Reserve's success in achieving economic objectives. She also discusses the challenges in modifying regulations, particularly for smaller banks, and the legislative difficulties in implementing changes.

What are the Federal Reserve's economic objectives mentioned in the speech?

What modifications has the Federal Reserve made to stress tests for banks?