Banking/Financial Institutions

Trump: I’d undo ‘very negative force’ of Dodd-Frank

Getty Images

Donald Trump said he would repeal landmark post-recession financial regulation Dodd-Frank but would take it easy on the Federal Reserve board as president.

{mosads}The presumptive Republican presidential nominee told Reuters in an interview published Tuesday that in two weeks he’ll release a financial regulation platform that includes repealing most of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“I would say it’ll be close to a dismantling of Dodd-Frank,” Trump said. “Dodd-Frank is a very negative force, which has developed a very bad name.”

Trump also said he’d tap a Republican to replace Federal Reserve Board Chairwoman Janet Yellen but said Yellen is “not an enemy.”

“I’m not a person that thinks Janet Yellen is doing a bad job. I happen to be a low-interest rate person unless inflation rears its ugly head, which can happen at some point,” he said, but said inflation “doesn’t seem like it’s happening any time soon.”

Trump last month told Fortune Magazine that he’d be “more inclined” to replace Yellen, which he could not do unless Yellen vacates her chairmanship. That ends in 2018, but Yellen could remain on the board until 2024.


Tags dodd-frank Donald Trump Federal Reserve Financial regulation

Most Popular

Load more


See all Video