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Title : U.S. Federal Reserve Board Chairwoman Janet Yellen: No New Financial Crisis In 'Our Lifetimes'
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U.S. Federal Reserve Board Chairwoman Janet Yellen: No New Financial Crisis In 'Our Lifetimes'

Reuters: Fed's Yellen expects no new financial crisis in 'our lifetimes'

U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.

"Would I say there will never, ever be another financial crisis?" Yellen said at a question-and-answer event in London.

"You know probably that would be going too far but I do think we're much safer and I hope that it will not be in our lifetimes and I don't believe it will be," she said.

Yellen said it would "not be a good thing" if reforms of the financial services industry since the crisis were unwound, and urged those who had helped manage the fallout at the time to be vocal in preventing such a dilution.

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Update: Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime' (CNBC)

WNU Editor: Not surprising .... others have a different point of view .... Great recession fears as bankers warn next global crash could arrive 'with a vengeance' (Caroline Mortimer, The Independent)

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