Powell Says He Supports a Rewrite of Volcker Rule

The transcript discusses the potential rollback and strengthening of banking rules, focusing on resolution, stress testing, and the Volcker Rule. The speaker believes current rules are sufficient but supports revisiting the Volcker Rule to tailor its application. The conversation highlights the need for a balanced approach to rule changes, considering both rollbacks and enhancements.

What does the speaker believe about the four pillars of reform?

• They are irrelevant to current banking issues.

• They can be made stronger and more transparent.

• They should be rolled back.

• They are already strong enough.

According to the speaker, what is the current focus after eight years of rule-making?

• Creating new rules.

• Rolling back existing rules.

• Strengthening all rules.

• Focusing on supervisory practices.

What is the primary purpose of the Volcker Rule?

• To increase bank profits.

• To restrict banks from trading on their own account.

• To eliminate customer service requirements.

• To allow banks to trade freely.

What is the speaker's stance on rewriting the Volcker Rule?

• The rule should remain unchanged.

• The rule should be rewritten to tailor its application.

• The rule should be abolished.

• The rule should be made stricter.

How does the speaker propose to handle the application of the Volcker Rule?

• By tailoring its application.

• By exempting all forms of trading.

• By making it more aggressive.

• By ignoring its original intent.