February 13, 2018 / 3:06 PM / in 8 months

Powell says Fed will be vigilant for financial stability risks

DAYTON, Ohio, Feb 13 (Reuters) - Federal Reserve Chair Jerome Powell, at a ceremonial swearing-in as head of the central bank, said on Tuesday the Fed would keep watching for financial stability risks and preserve “essential” improvements in financial regulation since the 2007-2009 crisis.

Powell, speaking on the heels of a market rout that shaved 10 percent from the value of major U.S. stock indexes, said the Fed would “preserve the essential gains in financial regulation while seeking to ensure that our policies are as efficient as possible. We will remain alert to any developing risks to financial stability.” He officially took over last week. (Reporting by Howard Schneider; Editing by Paul Simao)

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