Investing
Yellen Vows to Probe Market Mania, in Consumer-Protection Test
- Treasury secretary calling an ad-hoc meeting of regulators
- Market turmoil has spurred moves toward political oversight
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Treasury Secretary Janet Yellen pledged to examine the recent frenzy in financial markets in an effort to ensure investors are protected, signaling the new administration’s focus on consumer financial interests after years of emphasis on deregulation.
“We really need to make sure that our financial markets are functioning properly, efficiently and that investors are protected,” Yellen said in an interview Thursday on ABC television’s “Good Morning America” before she leads a snap meeting of top regulators later in the day. “We’re going to discuss these recent events and discuss whether or not the recent events warrant further action.”